Bank Nifty relatively underperformer. . It erased total initial weekly gain and on Friday it remained under pressure, breached the crucial support of 41500--41250 to slip to the day’s low of 40883. But finally after slight recovery ended at 41132, lowest closing in 10 sessions. Day to day basis down by 500 pts or -1.20%.
Max Pain for Bank Nifty 41300 & PCR = 0.56. Technically Trend deciding level 41250.
On the Upside :- Bank Nifty Spot Positive above 41250/330 then Resistance 41444. Then Only Major Resistance 41577—41666 & 41810.
On the Downside :- As long as it holds below 41000 area, the weakness can be seen towards 40880. Then Only Major Supports 40770—40550 & 40400.
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