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On the weekly chart, Bank Nifty made a time high of 46,310.10 and closed the session at 45,468.10. Index has lost 1.32 per cent as compared to last week. Currently the Index has moved below the 20 EMA, indicating short term weakness ....
Nifty Bank Put options open interest (OI) distribution shows that the strike of 43,000 has the highest OI concentration, which may act as a support for the current expiry ....
Select large-cap mid-sized private lenders have contributed the most to the gains, while state-run lenders have remained as the drags on the index on the back of profit booking after a stellar rally. ....
Bank Nifty index hit a record high in the early trade on Monday led by strong buying in banking heavyweights. The index gained around 1% to hit an all-time high of 44,458.15, crossing its earlier level of 44,151.8, hit in October last year. Watch this Visual Story to see if there is more steam left for the banking index, and which bank stocks may rally. ....