Nifty Bank March Futures (48,265)
The clever bank index is below the psychological level of 48,000. It is currently trading at 47,983, a 0.7% decrease. The Advances/Declines ratio is 1:11. This clearly shows that emotions are bearish.
A clever bank index outlook
The Nifty Bank Index is below the main support zone of 48,200-48,000. So, over 48,000 bounces can now close at 48,200. The outlook is negative. From here the index could drop to 47,700.
A clever bank futures
Nifty Bank March Futures (48,265) is down 0.75%. The contract is reluctant in regions of 48,350-48,450 and can increase the benefits of the day.
Daytime support is 48,100, and is retained for now. A break below that could lower the contract to 47,800 in future sessions.
Trade Strategy
Traders can run out of breaks below 48,100. Keeps stop loss at 48,180. As soon as the contract reaches 47,980, the stop loss will be reduced to 48,040. Once the contract is classified as 47,880, the stop loss will be moved to an additional 47,910. Finish your shorts at 47,850
Support: 48,100, 47,800
Resistance: 48,350, 48,600
