BankNifty Spot View For 06/12/2022
Cmp: 43332.95
Support & Downside Range: 43159—42950--42850
Resistance & Upside Range: 43415—43520 zone—43750--44000
Short-Term Trend Reversal Level: -- 42850
Trading View: Intraday bias remains bullish till the bank index trading above 43159 spot levels and in such case, it can move upside towards 43415—43520 minimum and max 43750—44000 levels whereas breaking below 43159 bias goes sideways and break below 42950—42850 zone bias goes weak and we may see bank index too cool off for few days.
Cmp: 43332.95
Support & Downside Range: 43159—42950--42850
Resistance & Upside Range: 43415—43520 zone—43750--44000
Short-Term Trend Reversal Level: -- 42850
Trading View: Intraday bias remains bullish till the bank index trading above 43159 spot levels and in such case, it can move upside towards 43415—43520 minimum and max 43750—44000 levels whereas breaking below 43159 bias goes sideways and break below 42950—42850 zone bias goes weak and we may see bank index too cool off for few days.
Bank Nifty Today
A lot of sector rotation is happening. We booked some long-term delivery positions in public sector banks. The rally continues in the PSU sector and select FMCG. There are 2 teams in the markets. Team 1 says the current US rally is a bear market rally and Team 2 says the real rally is about to happen. So the best is to remain 50% invested.
Make money using our Bank Nifty today levels and be a part of the team that makes a profit from the market.
World Bank gives an upward revision for India's GDP growth forecast from 6.5% previously to 6.9%. Revises FY24 GDP forecast downward from 7% to 6.6%, #WorldBank India Outlook
Update
Banknifty did not cross the 43210 spot went till 43201.25 and is now back to 43140 here 43090 a crucial support to watch below more panic
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