Market view of Mr. Sudarshan Sukhani.
BANK NIFTY is consolidating inside a range from last eleven trading days. Boundaries are now clearly visible with a support near 24850 and a resistance near 25450.
We had expected a consolidation after recent sharp upside move. Now prices have spent more than two weeks inside these 600 points of range.
The range will not last longer and sooner we may see a breakout in either direction. That breakout will give us a swing trading opportunity in the Bank Index.
Traders should look to trade intraday only. Prefer buy on dips and sell on rallies. Look to sell PSU BANKS and look for buying in PVT BANKS on dips only.
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