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. It is one of the two main stock indices used in India, the other being the BSE SENSEX.
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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