Bank Nifty Future witnessed a strong rally as it broke above the short term
consolidation pattern. On the higher end it reached 16350 whereas it found
support around 16200. The rise in price backed by good volume suggests
bullishness in the space. Among the momentum indicators – RSI and
Stochastic are in bullish crossover. On the higher end resistance may be seen
at 16400/16500. On the lower end supports are pegged at 16200/15900.
consolidation pattern. On the higher end it reached 16350 whereas it found
support around 16200. The rise in price backed by good volume suggests
bullishness in the space. Among the momentum indicators – RSI and
Stochastic are in bullish crossover. On the higher end resistance may be seen
at 16400/16500. On the lower end supports are pegged at 16200/15900.
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