Bank Nifty Weekly Analysis (19/06/2023 - 23/06/2023)


Bn is in distribution phase on weekly chart stuck in the range of 44500 - 43400

Further action expected only outside the range.

Daily looks to be taking support at 50EMA still within range.

Hourly can be Rlaunchpad.

Bearish targets can be 43100 and 42900 if trades below 44100.

Above 44100 bullish targets can be 44750 and 44900.



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Bank nifty Weekly view

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Bank nifty trading with high volatility from few days. Bank nifty made a lower top and lower bottom and now trading in a range. Next week trade with caution as gujarat election results are awaited. Can go long above yesterday's high of  25600 with a target of 26000.
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