The Bank Nifty index underperformed compared to the Nifty 50 in trading on August 28, closing down 135 points at 51,144, forming a small bearish candlestick. The index fluctuated within the range of the previous trading day and remained above the downward resistance trend line. Overall, the Bank Nifty's performance is relatively weak, mainly due to poor performance of its major weighted stocks
Technically, the Bank Nifty shows some downward pressure. The 50,950-50,850 point range is a key support level; a breach of this support zone could lead to further declines. On the upside, the 51,500-51,600 point area is the immediate resistance zone. If the index can break through this resistance, it may regain upward momentum
Technically, the Bank Nifty shows some downward pressure. The 50,950-50,850 point range is a key support level; a breach of this support zone could lead to further declines. On the upside, the 51,500-51,600 point area is the immediate resistance zone. If the index can break through this resistance, it may regain upward momentum
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