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Quote on Bank Nifty : This breakout occurred following the announcement of the merger date of HDFC twins Says Kunal Shah, LKP Securities
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Below View on Bank Nifty 27 June 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
The Bank NIFTY index witnessed a strong bullish move as the bulls took control and surpassed the hurdle of 44000. This breakout occurred following the announcement of the merger date of HDFC twins. The surge in buying pressure forced the writers of 44000 call options to cover their positions.If the index manages to sustain above the 44000 level, it is likely to continue its upward momentum towards the 44500 level.
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