Quote on Bank Nifty : The Bank Nifty index witnessed some profit booking at a higher level Says Kunal Shah, LKP Securities
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Below View on Bank Nifty 16 May 2023 By Kunal Shah, Senior Technical Analyst at LKP Securities
The BANK NIFTY index witnessed some profit booking at a higher level and the major contributors were HDFC twins. The index, if sustains below 44,000, can witness further correction towards 43,500 where the highest open interest is built up on the put side. The momentum indicator RSI is showing negative divergence which confirms the bearishness.
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