NIFTY 50 & Bank Nifty Stock Report By, Trading Fuel
The NIFTY 50 is a benchmark Indian stock market index representing the weighted average of 50 of the largest Indian companies listed on the National Stock Exchange.[1] It is one of the two main stock indices used in India, the other being the BSE SENSEX.[2]
Bank Nifty represents the 12 most liquid and large capitalized stocks from the banking sector that trade on the National Stock Exchange (NSE). It provides investors and market intermediaries with a benchmark that captures the capital market performance of the Indian banking sector.
After reaching a 25-week low on Jun. 17, 2022, the share price soared by 19%. Between Aug. 19 and Sept. 19, 2022, the share price dropped and recovers 5% reaching 25 week high. The price then falls by 3%, finding resistance at 17,429 current support at 23.60 of Fibonacci. According to the current technical indicators, the share price could still fall by -2% or even more if the current correction doesn’t support 17,167.85. We hope that you like NIFTY 50 & Bank Nifty Stock Report. Thanks for reading the Article on Nifty and Bank Nifty.
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