Bank Nifty bulls need to battle hard to recapture its important psychology mark of 34,000!

Any negative opening and slipping below the 33,600 level will have a bearish implication.

On Tuesday, Bank Nifty ended with a loss of half a per cent. It opened at 33,578 and closed at the level of 33,642. 

Since its closing was greater than the opening, it formed a small body bullish candle. However, it has formed a lower high and lower low as compared to its prior trading session bar. As the index is reacting from the higher levels, the indicators also show waning momentum. Intraday charts show higher low candles on the moving average ribbon support. 

However, the MACD is clearly indicating a bearish stance. The index has to move above the previous day's high for a bullish reversal. Any negative opening and slipping below the 33,600 level will have a bearish implication. Meanwhile, a move above 33,745 is positive, and it can test the level of 33,980.