It was observed that the Bank Nifty is currently underperforming but has managed to maintain its 50-DMA around the 50,700 level. Analysts noted that the 51,750-52,000 range would be a crucial resistance zone. A move above this range might signal strength, whereas falling below the 50-DMA could put additional pressure on the index.
Key Resistance: 52,000, 52,400
Key Support: 50,700, 50,400
The suggested strategy is that consolidation in the Bank Nifty might persist. It is recommended to consider buying on dips near 51,150, with a stop-loss set at 50,700, and a target of 52,000.
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