Nifty Bank outperforms on Budget Day! May face resistance around 46,500 levels
SECTIONSNifty Bank outperforms on Budget Day! May face resistance around 46,500 levelsBy Kshitij Anand, ETMarkets.comRate StoryFollow usShareFont SizeAbcSmallAbcMediumAbcLargeSavePrintCommentSynopsis
“The Bank Nifty bulls demonstrated strength as the index closed above the 46,000 level on the Interim Budget Day. The overall undertone remains bullish, with support at 47,800 providing a cushion for the bulls,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
ETMarkets.comThe Nifty Bank outperformed the benchmark indices on the Budget Day on Thursday. The index rose nearly 200 points to close at 46,188, while the Nifty50 closed below 21,700 levels.
Stocks that led the rally for Nifty Bank include names like PNB, Bank of Baroda, Axis Bank, SBI, and HDFC Bank.
The Nifty Bank managed to hold on to the gains but may face some resistance around its next hurdle placed around 46,500, suggest experts.
“The Bank Nifty bulls demonstrated strength as the index closed above the 46,000 level on the Interim Budget Day. The overall undertone remains bullish, with support at 47,800 providing a cushion for the bulls,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities. BUDGET'24 The भारत Moment
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