Quote On Bank Nifty : The Nifty index yesterday held the support of 17,950 Says Kunal Shah, LKP Securities
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Below View on Bank Nifty 03 November 2022 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
"The Nifty index yesterday held the support of 17,950 on the downside which will act as a cushion going forward. The index upside resistance continues to be at 18,200 where a significant amount of open interest is built up. The index once breached above the resistance zone of 18,200 will see further short covering towards 18,500-18,700 levels. The undertone remains bullish and once should keep a buy-on-dip approach.
The Bank Nifty index witnessed strong buying from the lower levels and held the support of 40,800 on the downside. The index once surpasses the immediate resistance of 41,500 will see a sharp rally on the upside towards 43,000 levels. The PSU banking stocks and HDFC bank can participate in this rally"
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