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Bank Nifty EOD Update Mar 16 - Post US Fed Rate Hike!

Bank Nifty opened Gap Up though most people expected a Gap Down on Fed Rate Hike news! Bank Nifty moved in very narrow range due to weekly expiry, but overall mood seems Bullish as it made all time high at 21289 and also closed at all time high closing at 21249.
The FED rate hike was priced in and dovish commentary from Fed helped market to continue its Bullish trend. As long as Bank Nifty stays above 21100 on daily closing, it has target of 21800/22500 in coming days/weeks. A weekly close above 21100 is strongly Bullish!

Tomorrow above 20276 target is 20400/20450, below 21225 target is 21100/21000.


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