Technical View: Nifty near 21,700 post RBI policy; strong support around 21,500-21,400
The Nifty Bank index failed to hold on the opening gains and ended 1.7 percent lower at 45,012.
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The Nifty Bank index failed to hold on the opening gains and ended 1.7 percent lower at 45,012.
The Nifty started the session above 21,800 and extended gains as the day progress to cross 21,950, intraday, however, some profit booking at higher levels erased some of the day's gains, to end at 21,929.40, up 157.70 points or 0.72 percent
The options data indicates that 22,200 is expected to be the key hurdle for the Nifty, while 21,600-21,500 will be the support area
The options data indicates near-term resistance at 21,800 and support at 21,500
The weekly options data indicated that 21,900-22,000 levels are expected to be resistance area for the Nifty 50, with immediate key support at 21,500 mark