Bank Nifty Analysis: 26-05-2023
BN broke the trendline upper side and moved beyond the 43880 level as discussed in the previous analysis. Some crucial factors:
a) When we see the 30-minute chart, the last 2 hours were in consolidation mode.
b) HDFC Bank was controlled by 50 ema downside.
c) Kotak Bank is under 61% Fibonacci level.
Due to these factors, I expect some consolidation around the 43820 - 44000 level in the forthcoming trading days.
BN broke the trendline upper side and moved beyond the 43880 level as discussed in the previous analysis. Some crucial factors:
a) When we see the 30-minute chart, the last 2 hours were in consolidation mode.
b) HDFC Bank was controlled by 50 ema downside.
c) Kotak Bank is under 61% Fibonacci level.
Due to these factors, I expect some consolidation around the 43820 - 44000 level in the forthcoming trading days.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.