The Nifty Bank index too opened lower in tandem with the benchmark indices and remained under pressure throughout the session. Post policy announcement, the selling pressure accelerated as a result index ended the session well below 25000 marks. Looking at the hourly chart, index formed a bullish divergence pattern. On a daily chart, index has an immediate support near its daily swing low of 24800 also the daily 89-EMA comes near 24700. On the other side, 24985 will act as an intraday resistance above which the next resistance comes near 25115.
Stocks For Today
Name Entry Target Stop loss
GNFC Buy Around 450 471 441.50
BATA INDIA Buy Around 729 760 713
BAN KINDIA Buy Above 184.50 192 180
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