It was a volatile week for Nifty Bank but it managed to close above 50,000 with gains of 0.4% for the week ended June 14. The index rose 0.3% on Friday to close at 50,002 while for the week it recouped losses and closed with gains of 0.4%, which is a positive sign for the bulls.Federal Bank, Bank of Baroda and PNB closed with gains of over 1% each while selling was seen in SBI, IndusInd Bank and AU Small Finance Bank.The bank index managed to close above the crucial resistance of 50,000 on Friday and for the momentum to continue a close above 50,250 is required, suggested experts.”The BankNifty continued its consolidation phase and was able to surpass the 50,000 mark, where the highest…
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