Bank Nifty with a strong start to the September series, also formed a similar kind of candlestick pattern on the daily charts by taking support at 44,800 as well as a downward sloping support trendline. The index rose 1 percent or 447 points to 44,436.
Bank Nifty has held on to its 20-week moving average support (44,144) and also closed in the green. We expect the pullback to continue over the next week as well,”daily and hourly momentum indicator has a positive crossover which is a buy signal.