Bank Nifty has recovered and is now above the 10750 levels crucial for bullishness on hourly charts.
The index though is in Sell mode on daily (but will be neutral above 11000 levels) which makes it a reduced buy only above 10750 levels.
Nifty has given a lot of whipsaws last week and the index had a flat close on weekly basis.
The shorts was stopped out on Thursday and Friday with no gains indicating more range bound movement going ahead. The upside resistance is at 5800 levels with support at 5640 levels.
Bank Nifty hourly signal with Nifty channels.
The index though is in Sell mode on daily (but will be neutral above 11000 levels) which makes it a reduced buy only above 10750 levels.
Nifty has given a lot of whipsaws last week and the index had a flat close on weekly basis.
The shorts was stopped out on Thursday and Friday with no gains indicating more range bound movement going ahead. The upside resistance is at 5800 levels with support at 5640 levels.
Bank Nifty hourly signal with Nifty channels.
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