Can RBI Policy trigger a breakout? Near support for Bank Nifty at 50,000

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Can RBI Policy trigger a breakout? Near support for Bank Nifty at 50,000 - Business Standard

Quick Summary:

The Bank Nifty is expected to consolidate in the 50,000-50,600 range; a breakout in either direction will further set the next move for the index, says Hrishikesh Yedve of Asit C.Mehta.

Trent, Solar Industries and Page Industries declined in the range of 5 - 8 per cent, with the OI correspondingly increased by 23.1 per cent, 21.7 per cent and 18.3 per cent. On the other hand, Metropolis Healthcare and SonaComs witnessed some short-covering.

Adding that a decisive move above the hurdle of 23800 could open another round of upside bounce in the market. Echoing similar a view, Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C.