NIFTY & BANKNIFTY Weekly Updates: Monday both NIFTY and BANKNIFTY took resistances at the weekly trend decider and tested lower to do the 1st downside targets before staging a strong reversal from those zones.
NIFTY: If we continue to hold above the Trend decider will look for a bullish continuation to test last week's high.Below the trend decider will expect value development in the marked zone before a decision on the next move.
BANKNIFTY : We have a new reference at 32520-600F , bullish on hold above and bearish to rotational on hold below. Hold below expect consolidation between 32100-32450F. Hold above look to test back the Jan highs