Bank Nifty Future Weekly Chart for the week ahead 17 August.
Below is the main chart for your reference.
It is also low of week closing 13Mar20 as you can see on extreme left circled
Last few weeks since 20June20 it is taking support on 21000 on Weekly basis with notable lows of 21025 and 21087 as seen in Value Chart presented as above.
For any decisive breakout for a trend to emerge below this range of 21000 needs a strength candle close above below 21000.
For any decisive breakout for a trend to emerge below this range of 21000 needs a strength candle close above below 21000
Hence, if at all a new uptrend emerges, it must provide a Close on Weekly basis above 23137 on 21Aug, 28Aug so on. . Till then, the Trend is Sideways between 21535 – 21000.
Only on any major Policy Decision from RBI in nature of a structural change or Government’s blanket support to Banks irrespective of rising NPAs that trend would emerge Upside. .