On March 14, 2023 the 50-day SMA rose above the 200-day SMA. This ‘golden cross’ began the rally to the annual risky level at $429.79 set on January 24, 2024.
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On the eweekly time frame, Bank nifty has successfully above the support of 20 Day EMA levels and hence Bank nifty can further move higher towards the next resistance of 48650 levels.