● Bank Nifty has been making higher lows from last 6 consecutive session and closed the week with the decent gains of around 6%. It made a new life time high of 31705 on the Election outcome day and given a highest daily and weekly close above 31200 zones. We have seen buying interest in most of the Private and PSU Banks and a follow up buying could lead them for fresh breakout territory
● Now Bank Nifty has to hold above 30500 zones to extend its move towards recent high of 31705 then a fresh rally towards 32000 and 32250 levels while major support exists at 30250 zones which has provided major support for the last entire week