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Quote on Bank Nifty : The Bank Nifty index witnessed an ongoing struggle between bulls and bears Says Kunal Shah, LKP Securities
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Below View on Bank Nifty 25 August 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
"The Bank Nifty index witnessed an ongoing struggle between bulls and bears, resulting in a phase of range-bound trading.The support level is clearly visible around 44000, coinciding with significant put writing, which could act as a stronghold against downward movements. Conversely, resistance can be observed around 45000, where the highest open interest is seen on the call side, indicating potential selling pressure.A decisive break on either side of this range could trigger trending moves. Despite this, the prevailing bias appears to lean towards the bullish side within the range."
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