February 20, 2018 / 7:25 AM / 4 months ago

BUZZ-India's Bank Nifty index trading near key support levels

** India’s Bank Nifty down 0.14 pct at 25,026.05, near key support levels

** Index has been hit by worries about impact from Punjab National Bank’s disclosure that it was hit by a $1.77 bln fraud

** Bank Nifty has underperformed in February, down 7.94 pct vs 5.80 pct drop in broader index

** But Bank Nifty now near 23.6 pct Fibonacci retracement of 25,058.55, comprising entire upmove from Dec 26, 2016 low to Jan 29, 2018 high

** Index’s 200–day simple moving average at 24,640.91

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