Nifty Bank index has come down below 50,000 again. This has made the case for a double bottom formation on the charts wrong. Similarly, on the Nifty also did not see a rise to 24,000. Instead, it fell back to test 22,800 again.

However, we repeat that a strong long-term support is available for the Nifty. So, there is not much room left on the downside. Strong support is in the 22,500-22,300 region from where we can expect the Nifty 50 to stage a fresh rally going forward. So, a further from here is a good long-term buying opportunity for the nifty.

Nifty Bank index on the other hand has to rise above 50,000 to go up to 51,000-52,000 and higher. Else the nifty bank index can fall to 48,000 or 47,000 and then rise back towards 50,000 again.

--

BL Portfolio: https://www.thehindubusinessline.com/portfolio/

--

Write to the following email ids for any queries on

1) Futures & Options (F&O) : derivatives@thehindu.co.in

2) Technical outlook on the specific stocks: techtrail@thehindu.co.in

3) Mutual Funds: mf@thehindu.co.in

4) Investments, Personal finance: blportfolio@thehindu.co.in

--

SOCIAL MEDIA HANDLES

Facebook - Blportfolio

https://www.facebook.com/profile.php?id=100086211032670

LinkedIn - BL Portfolio

https://www.linkedin.com/in/bl-portfolio-314bb2220

Twitter - @BlPortfolio

https://twitter.com/BlPortfolio?t=B3zkMfwKIMuoHWBWJfoZ3w&s=09

Published on February 15, 2025