Nifty tested 23,800 and then has come down from there. But the bias remains positive on the charts. Supports for the Nifty 50 are there to limit the downside and take the Nifty higher. Nifty Bank index on the other hand looks bullish with a double bottom pattern formation on the chart.

Nifty has supports at 23,400 and 23,285. If it manages to sustain above these supports, Nifty 50 can break 23,800 and rise to 24,200 and 24,400 in the coming weeks.

Nifty Bank index is looking bullish with a double-bottom pattern formation on the chart. Nifty bank index can rise to 52,000-52,500 in the coming weeks. Supports are at 49,800 and 49,300.

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Published on February 8, 2025