RBI policy came but Bank Nifty still remained in trading range of 12600-12200.
As
discussed last week bank nifty was unable to close above the trendline
resistance of 12540. Technically till 12540 is not crossed pullback till
12200 is very much on cards. This
is what we discussed last week and Bank Nifty made high of 12571 and
low of 12200 so we were able to catch the top and bottom of Bank Nifty
:)
Bank Nifty Hourly
Bank
Nifty hourly charts have pull backed from 12571 as discussed last week
resistance at 12540. Bank Nifty has been trading in small range of
12200-12570.Breakout above 12600 and breakdown below 12200. Till this
range is not broken better remain out of trade.
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