Market Update: Bank nifty broke almost 400 points.

Bank nifty to 35000 levels

Today Bank Nifty opened at 35433 and then we saw a drop in the price. It started dumping from 35433 in the morning when the market opened.

We saw a breakdown of somewhere 400 points in the market and making a bloody line.

We can clearly see in the Chart that Bank Nifty has broken its minor support level so this lets us see a clear dump in the market. Bank Nifty is moving towards its major support which is somewhere 34975. We can see a clear dump in the market if the minor support breaks up. We can see a shorting opportunity if Bank Nifty breaks the major support which is at 34975. We can go to a shorting position if it breaks the support. But if it gives a bounce back then it can move towards its resistance level which is somewhere around 35541. In that case we can clearly see a bullish trend and we can go for long positions.

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