Nifty Bank Index

#banknifty directions and levels for October 22nd.

Bank Nifty Current View:

It is similar to the Nifty sentiment. If the market declines initially, we can expect minimum correctional targets of51,447 to51,338. If the decline has a solid structure, then the trend will likely continue. On the other hand, if it reaches this level gradually, a pullback is possible there.

Alternate View:

The alternate view suggests that if the market sustains the gap-up, then we can expect52,423 for the pullback target. However, it should break the38% Fibonacci level solidly; only then can we expect this level.

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