The Nifty Bank Index is currently trading at 50,440.90. In the near term, the index has reached its resistance level of 50,600
The Nifty Private Banks Index is currently positioned to attract profit booking on any rise, making a sell-on-rise strategy the most suitable approach for traders
Shares of RBL Bank, IndusInd Bank, Bandhan Bank, and City Union Bank surged by 7.2 per cent, 6.7 per cent, 6.6 per cent and 6.4 per cent, respectively in intraday deals
IT Index is trading at 33,880.85 and is currently exhibiting a range-bound pattern on the charts. The defined range for this index lies between 34,300 and 32,700
The Nifty Bank Index, currently trading at an unspecified price, has experienced a sharp correction on the charts recently. However, there are indications of a potential technical bounce in the near
Bank Nifty hit a new all-time high on Monday led by a rally in ICICI Bank post inline Q4 results. Analysts upbeat on future prospects of the private sector bank.
According to Ravi Nathani, an independent technical analyst, the Nifty Bank seems to be trapped in 47,625-47,375 trading range.
If Nifty Bank breaches 46,536, the immediate next support levels are expected to be around 46,225 and 45,675
If the index falls below the lower boundary of 23025, the next support levels on charts are expected at 22650 and 22250
To capitalize on the prevailing downtrend in Nifty Bank, traders are recommended to sell, book profits, or establish short positions only when the index breaks below 46,864, said Ravi Nathani
A breach above 47600 would suggest a potential upward movement, with the next resistance levels expected at 47786, 48280, and 48400 in Nifty Bank, says Ravi Nathani
The Nifty Private Bank Index in seen trading in a range of 23,165 - 23,690, and the IT index in the 37,200 - 38,56 range, says Ravi Nathani, an independent technical analyst.
According to Ravi Nathani, an independent technical analyst, the Nifty Financial Index seems to be in a discernible downtrend.
A status quo on interest rate meant lenders may have to either hold or raise rates further in a bid to mobilise higher deposits
According to Ravi Nathani, an independent technical analyst, the Nifty PSU index is current exhibiting a range-bound pattern; whereas Pvt Bank seems weak.
The Nifty PSU Bank index is undergoing a correction phase, and a fresh buying momentum is anticipated only if it closes above 6,225, as per Ravi Nathani
The recommended trading strategy for PSU Bank index is to "sell on rise" or consider booking profits and maintaining a cash position, says Ravi Nathani
The identified consolidation range for Nifty PSU Bank is between 5,864 and 5,581 and a close above or below this range would serve as a trigger, says Ravi Nathani
Traders are advised to exercise caution and secure profits in Nifty PSU Bank index on upward movements
Consider booking profits on upward movements in Nifty Financial Services, suggests Ravi Nathani