Bank Nifty analysis 10/28- expiry
Bank Nifty likely to consolidate despite of positive sign in SGX Nifty. The global market looks Negative and due to corporate results ahead the Nifty may move huge volatility.
ICICI bank broke the trend level and we can expect Bank nifty to move upward if it breaks 847 level with huge volume and Axis to break 801 level.
SBIN and HDFC bank are support level, even 1% breakdown may lead to 300-400 points fall in bank nifty.
Sideway zone - 40500 - 41300
Resistance 2(R2) - 41750
Resistance 1(R1)- 41300
Support 1(S1) - 40200
Support 2(S2) -39900
ICICI bank broke the trend level and we can expect Bank nifty to move upward if it breaks 847 level with huge volume and Axis to break 801 level.
SBIN and HDFC bank are support level, even 1% breakdown may lead to 300-400 points fall in bank nifty.
Sideway zone - 40500 - 41300
Resistance 2(R2) - 41750
Resistance 1(R1)- 41300
Support 1(S1) - 40200
Support 2(S2) -39900
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