The Nifty Bank bounced back on Wednesday but faced resistance around 47,000 levels for the fourth session in a row. A break above 47,000-47,200 will open up room for the index to head towards the 48,000 mark. It rose 185 points to close at 46,785 while the Nifty 50 rallied 118 points to close at 22,123.Kotak Mahindra Bank, Axis Bank, and HDFC Bank rose over 1% each while some selling was seen in Bank of Baroda, PNB, SBI, and Bandhan Bank.”The Bank Nifty experienced a sideways trading session, marked by consolidation, but towards the end, bullish momentum prevailed. Despite this consolidation, the index closed just below its 20-day moving average (20DMA), positioned at 46,950,” said…
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