Posts
MTECHTIPS:-BANKNIFTY
The Bank nifty witnessed sharp downfall on Friday, and the index closed the day with sharp decline. Traders were seen piling up negative positions in the banking stocks. Any dip below the levels of 9600 will be very weak signal for the markets in coming days. The index has crucial resistance above 9300 levels, and if the Bank nifty holds above 9600 levels, we may witness some pull back after a very sharp decline. Overall trend in banking counters is weak and holding at current levels will be very negative signal for the index in coming sessions. Clients are advised to avoid longs at current levels and wait for clear trend before taking aggressive positions. Strong resistance now in the index is seen above 9800 levels.
The Bank nifty witnessed sharp downfall on Friday, and the index closed the day with sharp decline. Traders were seen piling up negative positions in the banking stocks. Any dip below the levels of 9600 will be very weak signal for the markets in coming days. The index has crucial resistance above 9300 levels, and if the Bank nifty holds above 9600 levels, we may witness some pull back after a very sharp decline. Overall trend in banking counters is weak and holding at current levels will be very negative signal for the index in coming sessions. Clients are advised to avoid longs at current levels and wait for clear trend before taking aggressive positions. Strong resistance now in the index is seen above 9800 levels.
No comments:
Post a Comment