Bank Nifty- Post Budget Feb 2021
Breakout above the earlier contract peak and also above earlier historical peak formed in Jan-March 2020 quarter. Since the rise was large one should be open for intra-day correction if sustains below the open and below 33276-32313 zone. If sustains above the open and above 33485 then expect Bank Nifty Feb to continue the rise towards 1.618 of the fall from 32971 to 29752. The effect can see a rise towards 35000 with intra-day volatility. Intra-day correction to 32567-31650 could be tested if sustain below 33276-32314.
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