Bank Nifty chart analysis

 

• Bank nifty continues to trade in a range.
• Fib levels shows price staying above 23.6%, Weakness only if price falls below this level. Bearish below 38.2% Fib level. Bulls need to stay above 23.6% Fib level to avoid a correction.
• Rising 20 Day SMA too may act as support for BN Bulls.