Banking stocks took a heavy beating on Monday with the Nifty Bank index tumbling over 8 per cent. On Tuesday, however, the stocks showed some recovery with the index trading nearly 0.5 per cent higher.
Here's a look at what technical charts indicate for Nifty Bank and its key constituents NIFTY BANK: This index is highly resistant at 38.20% Fibonacci retracement as per the daily chart. The recent high of 21,967 suggests the retracement level of 22,050 holds a strong hurdle for the coming sessions. The overall momentum indicates “sell on rise” strategy with ...
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First Published: Tue, May 05 2020. 10:57 IST
