Bank Nifty View
Bank Nifty too formed a spinning top kind of a candle again, resembling a short term top in place. Fresh upmove is likely to resume only if 31500 zone is broken on closing basis. On the other hand, the 31100 mark is the important support below which fresh selling pressure is likely. The Nifty PSU Bank index which showed immense strength throughout the week saw profit booking on Friday. The index has formed a Doji candle on daily chart indicating uncertainty is on the cards.
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