BankniftyFuture last close: 22316 (+4%)
BankniftyFuture was seen violent movement in last 15 days and seen everyday minimum 500 points movements!!
Index was spiked almost 2000 points in last five sessions from 20430 to 22360
Latest news is Centre files affidavit before SupremeCourt and agrees to waiving compounded interest for loans up to Rs. 2 crore. Its positive news for bank index
On Thursday, Hdfcbank did very well and contributed 243 points to lift index
Icicibank gained 4%, Kotakbank added 3%, Axisbank spiked 4.5% and Indusindbank up 12%
Above 4 stocks was contributed 430 points to bank index
BankniftyFuture weekly trend decider 22800 and 21000
Monday (05th Oct) maybe will get clear picture from Supreme Court on Moratorium case
Centre files affidavit before SC and agrees to waiving compounded interest for loans up to Rs. 2 crore, thus will get clear
Let’see technical levels!!
BankniftyFuture was formed a bullish candle on Thursday
Now, BankniftyFuture is facing a weekly resistance at 22830
Once if breaks and manages above the level further rally will be expected up to 23450+
On other side, index considering a supports 21700, 21300 and 21000
If fails to take support at 21000 then will finding a next support at 20400 which was placed latest swing low
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Updated: 11.23 am / 03rd Oct 2020
