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Quote on Bank Nifty : Support can be identified around the 44400 level Says Kunal Shah, LKP Securities
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Below View on Bank Nifty 10 August 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
After the RBI policy, the Bank Nifty index encountered significant selling pressure, leading to a challenging situation. A substantial resistance is evident at the 45000 mark. Breaking through this resistance level could be demanding due to the prevailing selling pressure.Support can be identified around the 44400 level. A drop below this support could further empower the bears and potentially lead to additional downward movement.To regain control, bullish momentum would need to overcome the hurdle at 45150. Surpassing this level could provide the bulls with an upper hand and potentially steer the index towards a more positive trajectory.
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