Momentum Oscillators- RSI (11) has fallen below benchmark level of 50, which indicates bearish trend
According to Ravi Nathani, an independent technical analyst, the Nifty can potentially take support around 19,170 - 19,050; Bank Nifty remains rangebound within 43,600 - 45,100.
According to Ravi Nathani, an independent technical analyst, the the ongoing correction has positioned the Nifty in close proximity to its support levels, at 19,200, 19,150, and 19,080.
RSI has fallen below benchmark level of 50 for Bank Nifty, indicating a bearish trend, says Nandish Shah of HDFC Securities
According to Ravi Nathani, an independent technical analyst, a downward correction is likely for Nifty50 if it breaches below 19,300-mark
Buy Bank Nifty 45,500 Put option and simultaneously Sell 45,500 Call of the 03-August expiry, suggests Nandish Shah, Sr. derivatives & technical research analyst at HDFC Securities.
According to Ravi Nathani, an independent technical analyst, all the Nifty may seek support in the range of 19,550 - 19,300 levels.
Meanwhile, if the Bank Nifty closes above 45,150 it would indicate fresh strength, says Ravi Nathani, an independent technical analyst.
FIIs continued to roll their bullish bets on Index and have slightly reduced their longs in Single Stock Futures, says Nuvama Alternative & Quantitative Research report.
Stock market holiday was changed from June 28 to June 29 after the Maharashtra government issued an order, postponing the data of the Bakri Eid holiday in the state
Meanwhile, the Bank Nifty is likely to counter resistance around 44,300 in today's trade.
According to Ravi Nathani, an independent technical analyst, the Nifty 50 is seen consolidating in the 18,500 to 18,900 range.
Meanwhile, the Bank Nifty seems broadly trapped in the 43,500 - 44,000 range, say analyst.
According to Ravi Nathani, an independent technical analyst, the Bank Nifty, however, remains trapped in the 44,500 - 43,375 range for now.
Short term trend of the Bank Nifty has turned weak as it has closed below its 5 and 11-day EMA, says Nandish Shah of HDFC Securities
BSE did not comment on the possible impact of NSE's decision on its revived volumes
Meanwhile, the Bank Nifty may face resistance around 44,300 - 44,350 zone today.
Meanwhile, charts suggest that the Bank Nifty is sustains above 44,140 can rally to 45,000 - 45,300 levels says Ravi Nathani, an independent technical analyst.
Meanwhile, the Bank Nifty may witness a sharp fall if the index fails to sustain above 43,500 level.
Nandish Shah, Sr. derivatives & technical research analyst of HDFC Securities, recommends to Buy Bank Nifty 43,800 Call option and simultaneously Sell 44,300 Call of the May series.