ICICI Bank, PNB, SBI, Axis Bank: Key support, resistance and target levels

Nifty Bank: Nifty Bank slipped over one per cent on Monday, breaching the 26,800 level in intra-day deals. The index has formed a “rising channel pattern” and has broken the support of lower rising trend line at 26,950.    

A price channel is a continuation pattern that slopes up or down and is bound by an upper and lower trend line. The upper trend line marks resistance and the lower trend line marks support. Price channels with negative slopes (down) are considered bearish and those with positive slopes (up) bullish.

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