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Bank Nifty Index Fall Ahead?

From the last couple of trading sessions; Bank Nifty Index is hovering around short-term support.

03092020 bnf short term trend chart

The overall picture has not turned bearish till yet, but on a short-term scale, it’s still negative. The range of 23400-23300 is the strong critical area.

From near that Index has tried to move up but failing to hold the gains. In the coming sessions; If Price break and sustain below 23400-300 then drop towards 22900/22600/22400 range can be seen.

On, the higher side Bank Index needs to trade and hold above 23900 range for a rise towards 24250 and more.

The above-mentioned price ranges are valid only for the next couple of sessions.- Divesh