Quote on Bank Nifty : The Bank Nifty index has been trading in a sideways consolidation phase Says Kunal Shah, LKP Securities
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Below View on Bank Nifty 13 June 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
The Bank Nifty index has been trading in a sideways consolidation phase, indicating a lack of clear directional bias. The immediate resistance level for the index is at 44200, which has been acting as a hurdle for further upward movement. A successful breakout above this resistance level could potentially trigger trending moves in the index, suggesting a bullish sentiment.On the downside, the index has support at 43700, which has held the market from significant declines. If the support at 43700 remains intact, it could provide a buying opportunity for market participants.
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