Bank Nifty continues to consolidate as well. The index is trading within an expanding falling channel pattern. For a fresh upswing to begin, the index has to break past its crucial falling trend line resistance of 28,150-28,200 zone. On the downside, vital support is seen around 27,500-levels for Bank Nifty.
Nifty continues to remain in a consolidation phase as the sideways move gets extended to the second consecutive month. Currently, Nifty is in a Symmetrical Triangle on the daily chart. For a fresh upswing to begin, the index has to surpass the falling trend line of the Symmetrical Triangle, which is around the 11,100-11,150 zone, post which Nifty is likely to witness a meaningful rally. Crucial support is now seen around the 10,850-10,900 zone for Nifty.
NSE BSE TIPS LIVE FOR 16 SEPTEMBER…………..