Banknifty May cross 50k Mark before Election Results-Election is key

Bank Nifty recently tried to cross 50k Mark however selling pressure did not allow it go at the level and reverse back and last 3 days making bearish mood. Looking at the chart Price is hovering near previous resistant which may act as a support for short term and we may see weekly expiry between 48k to 50k Mark.

As we know election result has be announced on 4th June 2024 short sell would not take risk to go short in near term unless there is any unpredictable events happens. So if things will be status quo then even we may see bullish nature in Indian market and soon  we may see 50k mark in Banknifty.

Yellow metal (Gold)may touch Rs.100,000 if any uncertainty happens in global economy

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