Nifty Bank: Key levels to watch out for on Thursday

A day before Thursday’s weekly expiration, Nifty Bank ended the day down around 265 points. On the daily scale, the banking index formed a doji candlestick. Support for the Nifty Bank is seen at 40,600 while resistance is placed at 41,500.

Here’s how analysts read the pulse of Nifty Bank:

Kunal Shah, Senior Technical Analyst at

The Nifty Bank Index continued to face resistance at higher levels where 42k will act as a hurdle. The index is stuck in a broad range between 40,500 and 42,000 and a break on either side will determine the trend of the index. On the derivatives front, the highest open interest is building on the call side at 42,000 and immediate support is visible at 41,000 where fresh writing of puts has been observed.

Chandan

,

The index needs to cross and hold the 41,250 zone to continue the positive momentum towards 41,500 and the 41,840 zone’s life high, while on the downside support holds at the 41,000 and 40,750 levels.

(Disclaimer: Experts’ recommendations, suggestions, views and opinions are their own. These do not represent the views of Economic Times)

https://economictimes.indiatimes.com/markets/stocks/news/nifty-bank-key-levels-to-watch-out-for-on-thursday/articleshow/94356483.cms Nifty Bank: Key levels to watch out for on Thursday

Russell Falcon

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