BANK NIFTY WEEKLY ANALYSIS - View for 26 Aug till 30 Aug 2019.
Bank Nifty Spot has broken the Trendline and its Trading Below that.
If Bank Nifty closes below 26550, it can move towards 26442, 25954 and 25227.
On the other hand, Bank Nifty may gain strength only above 26760 , After it breaks the trend line and resistance level ( 26760 ) to move towards 28388.
It seems you have ignored FM's announcements' impact on Bank Nifty (BNF). A 100 point gap up in Nifty can translate in approximately 350 point gap up in BNF. I expect BNF to open at around 27400 or above on Monday.
sahilak
⋅
@protrader1969, Thanks for the comment Sir, you are Right. I have ignored the FM's announcement. I will try to plot the chart based on the levels you have suggested.