Bank Nifty Spot View For: 09/06/2023
CMP: 43995.25
Moving AVG (EMA) 20 Hour & 40 Hour: 44192 & 44162
Moving AVG (EMA) 20 Day & 40 Day: 43848 & 43287
Support & Downside Range: 43917—43848--43706
Resistance & Upside Range: 44192--44245—44500
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Short Term Trend Reversal Level: -- 43706
Trading View: Today Canada Pension fund is selling their stake of around 1.4% equity in Kotak Bank this news came yesterday after market hours so in today's trading session key level to watch is 43917 which is yesterday's low and 43848 which is 20 Hour moving Average if this two levels manage to hold bank index then we may see immediate upside towards minimum 44192 to 44245 here 44245 acts as immediate intraday rest ahead of weekends if bank index manage to trade above 44245 spot by or before 2.30pm then we have a chance to see intraday extended move towards 44500 spot levels #Note : Here 43706 is our trend reversal support which means if this gets hit then upside gets topped out near 44500 for time being and we may see correction in coming trading session.
