Webinar :Join us on Jan 21, 22 and 23, 2021 at the ANYBODY CAN TRADE 360° LIVE virtual event. Register Now!

Bank Nifty breaches 32,000, hits record high; YES Bank, PNB, RBL Bank lead

The top gainers from the banking space included YES Bank which gained 2 percent followed by Punjab National Bank, RBL Bank, ICICI Bank, Federal Bank and Bank of Baroda.

November 28, 2019 / 10:20 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Nifty had a blockbuster start to November 28 session as it opened above 12,100 levels. Among the sectors, PSU Bank index gained one percent while Bank Nifty index added half a percent hitting a high of 32,015.35.

Bank Nifty hit record high of 32,015.35, last registered on November 26, 2019.

Bank Nifty has broken out from the downward sloping trendline adjoining all-time high 31,783 (31 May 2019 High) and 31,660 (5 July 2019 High). Fibonacci Extension levels are projecting the upside target at 33,300 in Bank Nifty. The target for Bank Nifty is seen at 33,300 odd levels. The Nifty PSU Bank Index has broken out from the bullish “Inverse head and shoulder, said Vinay Rajani of HDFC Securities.

The top gainers from the banking space included YES Bank which gained 2 percent followed by Punjab National Bank, RBL Bank, ICICI Bank, Federal Bank and Bank of Baroda.

The other gainers included Canara Bank, Oriental Bank of Commerce, Indian Bank, Syndicate Bank and Union Bank.

Close
The outperformance of banking was seen in the market so chances of moving closer to 33,200 can be seen. If it sustains above that then further progress will be seen, said Vishal Wagh, Head of Research at Bonanza Portfolio.
Moneycontrol News
first published: Nov 28, 2019 10:14 am

stay updated

Get Daily News on your Browser
Sections