Nifty & Bank Nifty Update

Nifty Chart:

As discussed in weekend post nifty took support exactly at channel bottom and consolidated for whole day. Channel resistance and support level for next hour are marked in green. A move past today's day high of 8242 will break channel. But only a move above 8277- 8300 zone will be a first sign of mild bullishness. 

Bank Nifty Chart:

Bank nifty is consolidating in rectangle pattern. A move past any of the levels marked in chart above, will give a 350 points move. 

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