Bank Nifty yesterday gave a volatile session with a narrow range movements. Marginally higher opening at around 38300 then hit an intraday high of 38403 and a low printed at 38155. Finally Closed at 38288~, Up 0.13% or +50 pts.
It formed Doji pattern on the daily chart, indicating indecisiveness among bulls and bears about the future trend.
Gap up opening is highly expected amid Green Global cues.
On the upside:- Above 38408—Resistances :- 38530—38656—38777.
On the downside :- Immediate support for Bank Nifty are below 38155 - 38038/37888 <5-9 mov>. Fresh negativity only below that then 37650-37500 major as 13 DSMA.
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