Nifty and Bank Nifty Prediction for the week 02 Sep'24 to 06 Sep'24 by BL GURU
#Nifty has risen breaking above the resistance level of 24,850 as expected last week. After the initial rise, #Nifty was bought every time it dipped below 25,000 last week. That indicates the presence of strong buyers at lower levels. That keeps intact our bullish view. #Nifty50 is looking strong on the #charts. We can see more rise going forward.
#Nifty has #support at 24,900. #nifty50 can rise to 25,600-25,700 first. Thereafter a corrective fall to 25,200 is a possibility. After this corrective fall, #Nifty can see a fresh rally targeting 26,200 on the upside in the coming weeks.
#BankNifty has an immediate resistance at 51,600. A break above it can take the #niftybankindex up to 52,200 and 52,500.
Support for #niftybank is at 50,900. The index will come under pressure for a fall to 50,000 if it breaks below this support
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