Banknifty Trading strategies for 17th jan

Bank nifty had seen sharp correction in last trading session, after increasing inflation and on concerns that the Reserve Bank may hike interest rate. Bank nifty closed at 10439 levels and continues its bearish trend. One should adopt the strategy of selling at higher level. Support for bank nifty is at 10300/10171 and Resistance is at 10600/10955 levels.

RESISTANCE: It has first resistance close to the level of 10600 & above this level the next resistance is seen near the 10955 mark.

SUPPORT: It has first support close to the level of 10300 & below this level the next support is seen near 10171 marks.

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