In today’s trading session, Bank Nifty futures slip down by 1.46%. Moreover, Bank Nifty futures made a fresh low of 34486.40 and later on settled around 34590 as the last traded price.
What to expect tomorrow with Trendy Analysis?
As per our analysis- Gap down opening below 34400 will take it to 34080 —33600 levels. On the contrary, it would test its resistance level of 34800 — 35250 all over again.
We may see a fresh buying on close above 35550 levels only.
MACD shows a negative cross over and thereby Bank Nifty future is also going down towards 21 days moving average which clearly indicates a negative trend in the upcoming market.
If this negative trend continues then a sharp upside rally will increase the selling opportunities for traders with a stop loss above 35550.