Bank Nifty has been trading in bearish channel since start of the week, as in my previous analysis bank nifty target hit today and bank nifty closed just inside the trend line support making small false break. It seems it retested the support today but didn't make breakout which signs a long entry, Bank nifty may go upward direction from tomorrow and also start from the next week with a target of 19110 in near term. traders have to be cautiously watch breakout downside it it opened in red then further downward is confirmed and it will head first support 17800.
icici bank a major contributor of bank nifty touching and bouncing on 100 ma hich is also indicates a bounce back
nextgen
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@ajayww2, ICICI Bank trading in uptrend channel respecting support and resistance, as it has touched resistance and approaching the channel support somewhere between 248-245 in near term. bounce back will be after touching the 248 level.