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Bank Nifty For Week Starting Feb 13

Bank Nifty is facing resistance at 20400. Let us analyze what is in store for next week!
Bank Nifty formed Doji on Daily chart that signifies uncertainty! Break above 20400 on Daily chart (Daily candle close) will take Bank Nifty to 21000/21100 level. On downside break below 20000 on Daily chart will take it to 19700/19500 levels.

Hourly chart shows Bank Nifty bounced from lower channel line (Blue color).
Holding 20100, Bank Nifty can move to 20500/20700 in next few tradings sessions. Break below 20000 will take Bank Nifty to 19500/19400 level.

Inside Pitchfork:

IP shows a Daily close above 20250 can take bank Nifty to 21000. Staying below 20250 can lead to 19500.
New minor time cycle will show its effect and this week Bank Nifty will decide Trend for next few weeks.


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