Bank Nifty Spot View: 28/08/2023
CMP: 44231.45
Moving AVG (EMA) 20 Hour & 40 Hour: 44315 & 44275
Moving AVG (EMA) 20 Day & 40 Day: 44495 & 44564
Support & Downside Range: 43940--43600
Resistance & Upside Range: 44433---44542--44991
Short Term Trend Reversal Level: -- 44991
Trading View: We have witness inter index divergence between nifty and bank nifty in last Friday's trading session where nifty was making lows and bank nifty was holding its previous lows, now in today's trading session key support to watch is 43940 spot levels if this manage to hold and bank nifty moves above 44433—44542 then we may see some stability to come in bank nifty whereas if 43940 break and sustain below it then it can also move downside to retest 43600 or more downside levels and in that case upside 44433—44542 acts as immediate upside rest zone.