Bank Nifty trades in small range, EOD Analysis for 15 Oct
- Bank Nifty continued in consolidation mode forming lower low lower highs,
As shown in below Pyrapoint chart on Hourly time frame Bank nifty is in
perfect consolidation mode. Bank Nifty has becomes proxy for IT index
to manage the index, As IT heavyweight TCS and INfy have been going down
on account of poor quarterly results, Bank Nifty has been used to
manage index from falling, hence trading in small range .17850 is
breakout area for 18050/18144 and 17350 is breakdown area for
17177/17000, In between its pure consolidation mode. Picking Tops and Bottoms: Is It for You?
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posted by Bramesh at
6:59 PM
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