Traders can adopt sell-on-rise strategy on Bank Nifty, says Ravi Nathani

According to the technical analyst, the Bank Nifty is likely to exhibit a negative bias as long as it remains below 42,850.

Nifty

Last close: 17,854.05

The Nifty Index, at present, is exhibiting upward momentum, however, this trend may soon encounter formidable resistance in the form of a range between 18,100 to 18,200.

In the event that the Index is able to successfully negotiate this obstacle and close above the aforementioned range, there is a likelihood of a prolonged upward trajectory towards the levels of 18,450 to 18,700.

Conversely, should the Index breach the support range of 17,600 to 17,475, it may be subjected to further downward pressure and may find solace in the form of support in the vicinity of 17,100 to