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NIFTYBANK
Likely target: 37,000 and above 37,708
Upside potential: 1.30% to 3.30%
In the past few months, the Nifty Bank Index has consistently struggled to rise above the 36,000 mark. A move above the 36,497 levels, which is the five-month high for the index, can take it up further. The daily and weekly charts suggest that a breakout above the above-mentioned level can see the index hit 37,000 mark and then record a new all-time high by crossing 37,708 levels.
As long as the support of 35,750 is defended on a closing basis, the upside sentiment is likely
Likely target: 37,000 and above 37,708
Upside potential: 1.30% to 3.30%
In the past few months, the Nifty Bank Index has consistently struggled to rise above the 36,000 mark. A move above the 36,497 levels, which is the five-month high for the index, can take it up further. The daily and weekly charts suggest that a breakout above the above-mentioned level can see the index hit 37,000 mark and then record a new all-time high by crossing 37,708 levels.
As long as the support of 35,750 is defended on a closing basis, the upside sentiment is likely
