Nifty and Financial institution Nifty Prediction for the week 12 Aug’24 to 16 Aug’24 by BL GURU

#Nifty50 and #NiftyBankindex fell final week as anticipated after which bounced again recovering a number of the loss. There’s room to rise farther from right here. Nonetheless, robust resistances are arising for the #Nifty and #NiftyBank index which may halt this bounce. On the charts, the image is weak. So, we might be anticipating the #Nifty and #NiftyBank indices to fall again once more after some extra rise from.

#Nifty has #resistances at 24,530 after which at 24,700-24,800. We anticipate the #Nifty to show down from any of those #resistances and fall again to #24,000-23,900 once more. A break beneath 23,900 will intensify the sell-off and drag the #Nifty50 right down to 23,200-23,000.

#NiftyBankindex has a right away #resistance at #51,000. Larger resistances are at 51,400 and 51,800. An increase to check these resistances this week is a chance. However after that, the #NiftyBank index can flip down and fall again once more to 49,500 and even 49,000.