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Today's View on Bank NIfty (12th Oct'21)

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Comments :

Global outlook is bearish, Almost all index has ended up or trading in red.

Domestically things are tight due to surge in inflation , chip and coal shortage and all but upcoming festival could recover the economy significantly, so market may swing any way.

Technical :

After giving breakout of Ascending triangle, it does show the move of 200+ point but later retreated and back to to test the breakout level. So if sustain above 38100 level then it make new high to level 39940/ 39800 in coming days.

strong support lies at 37900, if this get breached we could see very bearish move afterwards and it may lead it to 37366 and then 37020.

Happy Trading.

Nota

Works well.

PriceWorksIndeed

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