- Bank Nifty Weekly chart seems to have bottomed for now. Supporting bullish candle formed at the parallel line can give good bounce. Having said that A retest of the lows is possible if 5 Day Low EMA gets broken on closing basis. If that down move comes with positive divergence we may see a larger bounce for next series. For Bulls price has to break above 20 Day SMA and the resistance line of daily chart.
- CNX IT CHART ANALYSIS
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