Spot bank nifty closed at support.
Last hope at 29211.
Trend line support 29395 – 29450
Even if the trend channel is continuing, and the following possibilities still exist;
- 1) Gravitate price will attract the value, so long traders have target 29977.
- 2) The support at 29395-29450 will push the nifty toward to 29700.
- 3) Last hope at 29211, if bank nifty slip to that will be a pure bearish trend.
The formation of a bearish candle following a bearish Belt Hold on the daily scale indicates that bears are now forcing the market to restrict its momentum.
It can slip the next 1-2 sessions if above is not existing.