Nifty bank

Niftybank even after opening gapdown tries to sustain itself in green and closed above yesterday's closing price. As per our last post we have continued to put our view for upside in BANKNIFTY. (Resistance of 41000 is yet to reach)
Some noticing points that I want to clarify are:

Nifty bank is consolidating in a fix range which after its range breakout will give a sharp movement to any of the sides.

*For Short term trade (weekly options) support is 40050/39800/39550 if it goes downward direction.

* If this consolidation phase continues then we can put our resistance at or near 41000-41350; while support could be set above 39850. (For swing opportunity)

Thanks.
Disclaimer: This post is for educational purpose only. Please consult your financial advisor before investing.

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TripuraInvescorp

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