Nifty Bank Index
Long

BankNIFTY prediction for tomorrow

289
as we have already discussed Banknifty has given breakout. and yesterday it retested the 44300 level and again bulls pumped the bulls side. Now I am expecting it to move bullish whole this week. Target 1 will be 45561, then some consolidation and it will move to all time high 46250.
Reasons:
  • Price has already broken out 2 month breakout with Inverted HNS. (Bullish)
  • RSI showing bullish diversion. (Bullish)
  • Bullish Golden crossover successful. (Bullish)
  • Inverted HNS breakout and successful retesting of neck-line. (Bullish)
  • According to OI, PCR: 0.97 (Bullish) with max pain = 44800 or 45000.
  • above side only 45000 is having significiant resistance, if it's taken out bulls path will be clear for target 1 (45561)



Verdict:
Bullish

Plan of action:
Keep holding the previous position. you can add move call buy once bull intraday trend confirms.

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