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Bank Nifty Analysis for 17oct23

Long
NSE:BANKNIFTY   Nifty Bank Index
**Bank Nifty Analysis for 17/10/23**

**Support Levels**

* 44,120
* 43,995
* 43,770

**Resistance Levels**

* 44,532
* 44,713

**Buying Zone**

* Above 44,376

**Selling Zone**

* Below 44,120

**Analysis**

Bank Nifty closed at 44,251.40 on 16/10/2023. The market did not break the support level of 44,120 on 16/10/2023, and bounced back from there. This suggests that there is some buying support at the current levels.

For tomorrow, the support levels are 44,120, 43,995, and 43,770. The resistance levels are 44,532 and 44,713.

If the market breaks and sustains above 44,376 tomorrow, it will be a bullish signal, and we can consider buying in the 44,376-44,531 range.

If the market falls below 44,120 tomorrow, it will be a bearish signal, and we can consider selling.

**Note:** This is just an analysis, and it is not a recommendation to buy or sell any security. Please do your own research before making any investment decisions.
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