Angel Broking Pvt Ltd
Published on 22/06/2017 9:38:51 AM
Nifty Bank Outlook - (23709)
The Nifty Bank index consolidated in a narrow range and ended the session with negligible gains. As mentioned in our earlier reports, the index has been trading above its '20DEMA' support and some heavyweights within the sector have been showing positive momentum. Thus, from a short-term trading perspective, traders should focus on stock specific moves and trade with a positive bias with a stop-loss below the recent low of 23300. The intraday supports for the Nifty Bank index are placed around 23535 and 23400 whereas resistances are seen around 23870 and 23950.
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