The Nifty Bank closed in the red on Thursday for the fourth consecutive day, weighed down by mixed global cues.The Nifty Bank fell over 400 points to close at 47,069, while the Nifty50 failed to hold on to 22,000.Federal Bank, PNB, AU Small Finance Bank, and Bank of Baroda witnessed buying while selling pressure was seen in SBI, HDFC Bank, ICICI Bank, IndusInd Bank, and Axis Bank.The overall trend remains bearish although the Nifty Bank managed to take support above 50-DMA on the daily charts. Traders can deploy a ‘sell on rise’ strategy as long as the index trades below 48250-48500 levels, suggest analysts.”The Bank Nifty Index remains under bearish control, with any upward…
Read More…