Bank Nifty Weekly Chart Analysis
Bank Nifty will be on Radar as 3 may we have our RBI policy. We have 3 great triggers. First is fall in inflation. Second is fall in commodities prices and third a positive MOM IIP data. Market has definitely factored in 25 Bps rate cut and so if we have a 25 bps cut on the policy day than we can see a definite sell of but if the governor surprises us with a 50 Bps along with a CRR cut than only we may see a rally above 12755 and towards a new high else we can see a pullback till 12000.
Bank Nifty Hourly
Bank Nifty has been trading above 34 EMA from Apr 10 and gave a spectacular rally but on last Friday BN closed below 34 EMA @12540, Does it spell trouble..
posted by Bramesh at
10:42 PM
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