Bank Nifty consolidate in range before Budget,EOD Analysis

Tuesday, January 31 Leave a Comment

As discussed in Last Analysis   Bank Nifty continued its rally and closed above 19700, Holding 19700 bank nifty can bounce till 20000/20400. Bearish only on closed below 19360 for a move till 19140/18920. Bank Nifty gave whipsaw as it closed above 19700 but failed to give the follow upmove. Downside made low of 19561 and did not break 19360 so bulls are still safe. After a rally of 1000 points there will be some consolidation and as budget is also coming so range expansion will be seen in next 2 days. Bulls need close above 19800 for move towards 20200/20500. Bears below 19360 for move towards 19140/18920.  Common Excuses Made By Losing Traders
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