Nifty 50 And Bank Nifty Break Below Key Moving Averages
The Nifty 50 and Bank Nifty both snapped a three -day winning streak and formed a bearish candlestick pattern on the daily charts ,closing below all key moving averages on last Friday.
A break below 23,000 could drag it down to the 22,800 level, while a decisive climb above 23,400 could push the index to 23,600 ,followed by 23,800 . Bank Nifty needs to hold above 48,500 for a move towards the 49,000 -49,500 zone,but falling decisively below this level could drag the index down to 47,900.
