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Quote on Bank Nifty : The Bank Nifty index experienced a strong bullish momentum Says Kunal Shah, LKP Securities
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Below View on Bank Nifty 28 June 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
The Bank NIFTY index experienced a strong bullish momentum as the bulls maintained control and pushed the index higher throughout the day. The previous resistance level of 44000 has now transformed into a strong support level, providing a cushion for the bulls.
On the upside, the immediate hurdle is now at 44500, where call writing is visible. Once this level is surpassed, it is likely to lead to further upside towards the 45000 mark. Traders and investors should adopt a buy approach, using the mentioned support level as a stop loss and waiting for higher levels to be achieved.
Above views are of the author and not of the website kindly read disclaimer
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