The BANKNIFTY showed signs of faltering yesterday - if it manages to stay below 39356, the weakness will be confirmed.
Since the NIFTY has been piggy-backing on the BANKNIFTY for the last few days, any weakness in the BANKNIFTY will have a devastating effect on the NIFTY.
We will take a fresh positive view on the indices only if 39356/17893 is taken out convincingly, till then we are sticking to stock-specific positions only.
| 17 Aug 22 | |||
| Index | Sensex | Nifty | BankNifty |
| S2 | 59,674 | 17,775 | 39,054 |
| S1 | 59,813 | 17,817 | 39,120 |
| Previous Close | 59,842.21 | 17,825.25 | 39,239.65 |
| R1 | 59,923 | 17,849 | 39,268 |
| R2 | 60,068 | 17,893 | 39,445 |
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