Bank Nifty Analysis

Bank Nifty Analysis. As on Friday 26 March 2021. CMP 33,350. Posted at 11:20 am.

With yesterday's low at 32,422, a temporary low is likely in place.  The sub-divisions count quite well from 36,497 to 32,422.

A choppy rally to the 35,500 level is likely on the cards in wave C up of a bearish triangle.

Eventually, bank nifty is expected to commence a decline to the 29,500 ~ 31,000 level, but that is still some weeks away, as the triangle needs to be completed.