What is BankNifty?
Bank NIFTY, officially known as the NIFTY Bank Index, is a stock market index that represents the performance of the banking sector on the National Stock Exchange (NSE) of India. It comprises the most liquid and large-cap banking stocks listed on the NSE.
The Bank NIFTY index is used as a benchmark for investors and fund managers to gauge the performance of the banking sector.
The index represents about 12 major banking stocks listed on the NSE.
It helps traders and investors track the financial health and stock performance of major banks in India.
Example of Constituent Banks:
As of the latest data, some of the banks typically included in the Bank NIFTY index are:
- HDFC Bank
- ICICI Bank
- State Bank of India (SBI)
- Kotak Mahindra Bank
- Axis Bank
What is BankNifty Range Calculator?
BankNifty Range Calculator is a tool used by traders and investors to estimate the possible price range (high and low) for the BankNifty index over a specific period, typically on a daily,weekly basis.It is primarily used for trading activities or short-term trading strategies.
It helps traders manage risk by providing an estimate of the potential price range. If a trader expects high volatility, they might adjust their position size or strategy accordingly.