Bank Nifty settles at 10082 - FINQUEST

Bank Nifty after a weak opening, plunged marking an intra-day low at 9877, wherein prices took support. Index thereafter traded sideways but picked momentum in afternoon session and steadily surged higher, finally settling the session down by ~115 pts at 10082.

Bank Nifty though initially weakened but soon took support and bounced forming a small bodied candle. Thus for the coming session, view remains intact that 10300 would act as resistance, sustainable move above which would enable index to edge higher towards 10500-10550. However failure to do so would invite consolidation moves with immediate support seen at 10000-9900.

The supports for the day are at 10000 breach of which could take index lower towards 9900-9800 levels. Towards upside 10200 would act as resistance, above which could edge higher towards 10300-10350 levels.

Source : Equity Bulls

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