Support-35000(first) and 34400(second) Resistance- 35500-35550 | Stock Shiksha
Support-35000(first) and 34400(second) Resistance- 35500-35550
Banknifty performance was strong yesterday against our expectation because of short covering. Now psychological support is 35000 for banknifty where buying is recommended with strict stop loss. Breakdown below 35000 will be bearish in short term and we can expect 34400-34500 range where positional buying is recommended. On higher side, 35500-35550 is resistance where profit booking can be seen. PCR for banknifty is at 1.36 which is slightly overbought and hence avoid buying at higher level.
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