View on Bank Nifty : The Bank Nifty index witnessed sideways consolidation throughout the week Says Kunal Shah, LKP Securities
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View on Bank Nifty 05 August 2022 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
"The Bank Nifty index witnessed sideways consolidation throughout the week and is stuck in a broad range between 37,200-38,200 levels. The index needs to break on either side on a closing basis for trending action in the coming week. The index on the intraday chart is trading in an oversold category and the profit booking scenario cannot be ruled out from the current levels."
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