Traders say price moves the market. Bulls or bears move the market etc... But the fact is, money moves the market. You cannot ignore Bank Nifty when analyzing Nifty. When bank sector is supporting, Nifty gives a trending move.
Public sector bank stocks are on the move, while private sector bank stocks are not.
We can see that Bank Nifty was facing resistance around the 57500 zone for a long time, and now it is sustaining above it.
The rounding bottom pattern looks promising in Bank Nifty. Let us check other stocks.
Canara Bank is already on the move.
Axis bank has also formed a rounding bottom pattern like bank nifty. It is one of the private sector bank stocks that can support bank nifty.
Sbin is moving steadily, and now it is getting ready to give a breakout out of the consolidation zone.
ICICI, Kotak are still within range. RBL Bank is looking better. We have gone through few important stocks. Please share the charts with your analysis, if I have missed any.
Did I miss? Yes, I do. It is for you to analyze. 😇
Public sector bank stocks are on the move, while private sector bank stocks are not.
We can see that Bank Nifty was facing resistance around the 57500 zone for a long time, and now it is sustaining above it.
The rounding bottom pattern looks promising in Bank Nifty. Let us check other stocks.
Canara Bank is already on the move.
Axis bank has also formed a rounding bottom pattern like bank nifty. It is one of the private sector bank stocks that can support bank nifty.
Sbin is moving steadily, and now it is getting ready to give a breakout out of the consolidation zone.
ICICI, Kotak are still within range. RBL Bank is looking better. We have gone through few important stocks. Please share the charts with your analysis, if I have missed any.
Did I miss? Yes, I do. It is for you to analyze. 😇
Note
Trying to break 59k. Note
Price closed near high made today. Sustaining above 59k can give a good movement. 
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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.
Role I play here : Moderator. Follow me in telegram to trade better. t.me/Analysis4Newbie Contact information : tradingplan4u@gmail.com
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.