Quote on Bank Nifty: The index faces stiff resistance on the upside at the 43,000 level Says Kunal Shah, LKP Securities
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Below View on Bank Nifty 10 January 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
"The Bank Nifty index witnessed selling pressure throughout the trading session and ended near the day's low level ahead of the Fed chairman's speech. The index faces stiff resistance on the upside at the 43,000 level, where the highest open interest is built up on the call side. The downside is supported at 42,000, and if it is breached, further selling pressure will be directed toward the 41,500-41,400 zone, which will be the last line of defence for bulls."
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