BNF 1000 points in 2 days.
The recent move in the Banknifty following a breakout has been quite remarkable. Within just two trading sessions, the Banknifty has surged from 44000 to 44950. This rapid movement is a testament to the volatility and unpredictability that can occur in the market. It is interesting to note that after a period of consolidation lasting 10 days, such a significant move was witnessed in just two days. This highlights the nature of the market, where moments of intense activity can occur following periods of relative calm. This phenomenon is akin to the experiences of human beings, where years of struggles and efforts can lead to the best results in just one or two years.
In the recent market scenario, despite the BNF (Bank Nifty) reaching the 45000 mark, the sellers were strategically positioned, causing a subsequent fall in the bank nifty. This occurrence highlights a notable resistance at the 45000 level. As a result, the market is anticipated to enter a consolidation zone ranging from 44000 to 45000. A significant momentum can be expected only if the bank nifty manages to surpass either the 45000 or the 43500 mark on either side.
For tomorrow it may be in the range between 44500 to 44122.
In the recent market scenario, despite the BNF (Bank Nifty) reaching the 45000 mark, the sellers were strategically positioned, causing a subsequent fall in the bank nifty. This occurrence highlights a notable resistance at the 45000 level. As a result, the market is anticipated to enter a consolidation zone ranging from 44000 to 45000. A significant momentum can be expected only if the bank nifty manages to surpass either the 45000 or the 43500 mark on either side.
For tomorrow it may be in the range between 44500 to 44122.
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