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Bank Nifty 4 Hour Chart is forming Rounded bottom pattern. Yesterday and today Bank Nifty so far has traded lower in a bullish momentum and yet closed in green. Current market prices have broken the stiff resistance near 38500, we expect to see a small dip in the market once again today. We expect the prices to continue on a bullish momentum based on the charts that are forming as Rounded bottom pattern, once the same break above the stiff resistance holding near 38500 perhaps towards 38800-39100 levels in the upcoming sessions.The bank nifty chart shows that the index may form a nice rounded-bottom pattern and is expected to continue with its bullish rally once it breaks above the stiff resistance holding near 38,500.
The Bank Nifty charts are looking bullish. It recently closed in the green. We expect to see a small gap down today. The market will start moving up as soon as it breaks above the resistance at 38500. The prices could move up to 38800-39100 levels in the upcoming sessions. However, if the prices struggle to break the resistance level, then the prices would likely retest the previous high or even the support of 37000-37400 and change its trend to bearish/sideways mode once again. Crucial support holds near 37900.”