IT SEEMS NIFTY AND NIFTY IT WILL OUT PERFORM THE BANK NIFTY.
BANK NIFTY HAS RETRACED ABOUT 78.6 PERCENT OF RECENT RALLY.
POINT B AND C IN THE CHART ARE MAIN PIVOTS.
CROSSING BELOW B MAY ACCELERATE THE DOWNWARD DRIFT.
AND CROSSING ABOVE C MAY INVALIDATE THE PRESENT BEARISH OUT LOOK.
SUPPORT FOR BANK NIFTY 27939,27700,27575
RESISTANCE FOR IT ARE 28108,28762 20 DAYS SMA.200 DAYS SMA AND 100 DAYS SMA ARE RESISTANCES.
POINT B AND C IN THE CHART ARE MAIN PIVOTS.
CROSSING BELOW B MAY ACCELERATE THE DOWNWARD DRIFT.
AND CROSSING ABOVE C MAY INVALIDATE THE PRESENT BEARISH OUT LOOK.
SUPPORT FOR BANK NIFTY 27939,27700,27575
RESISTANCE FOR IT ARE 28108,28762 20 DAYS SMA.200 DAYS SMA AND 100 DAYS SMA ARE RESISTANCES.