Bank Nifty formed a double top around the 56,000 mark in the morning session and did not retest that level throughout the trading day.
In fact, it made a lower high and closed near a strong support zone around 55,300. With the market holiday on May 1st and upcoming news flow, charts suggest a possible further correction towards the 54,500–54,580 range.
In fact, it made a lower high and closed near a strong support zone around 55,300. With the market holiday on May 1st and upcoming news flow, charts suggest a possible further correction towards the 54,500–54,580 range.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.