Weekly Analysis 10th Sept 2022 - BankNifty (BnF)
Week close on 40504*
* Doji on Daily chart ,strong bullish candles on monthly and weekly.
* Bollinger Band Resistance on Daily and Weekly time frame and early stage symptoms of Band walk on Monthly.
Outlook for next week Neutral to bearish.
Outlook for monthly Neutral to Bullish.
S1: 39900 S2: 38400 S3: 37400
R1: 40900 R2: 41400 R3: 41900
Support and resistance are quite spread due to short covering rally which killed the bears on 40k.
BnF has kissed 41750 as expected and now we can see a healthy pull back to 39900 levels to spring back to ATH.
* Doji on Daily chart ,strong bullish candles on monthly and weekly.
* Bollinger Band Resistance on Daily and Weekly time frame and early stage symptoms of Band walk on Monthly.
Outlook for next week Neutral to bearish.
Outlook for monthly Neutral to Bullish.
S1: 39900 S2: 38400 S3: 37400
R1: 40900 R2: 41400 R3: 41900
Support and resistance are quite spread due to short covering rally which killed the bears on 40k.
BnF has kissed 41750 as expected and now we can see a healthy pull back to 39900 levels to spring back to ATH.