Nifty Bank

“Bank” your profits!

Nifty banks has given tremendous run in recent time and has out-performed Nifty in last two expiry. Stock specific movement in banks had led this divergence. To take some names, PSU Banks gave a strong short covering on weekly charts after two years of under-performance until Budget day this February. Still many PSU Banks are showing signs of a …

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Nifty Bank

Banking stocks may underperform!

Nifty has been quite volatile these days and it has almost achieved my target of 8720 before 2 days but now we are not getting any clear sign of trade on either side. But Nifty Banks index is showing some pattern on daily chart which is an upward slopping channel as marked in chart. But currently we are …

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Nifty Nifty Bank

Market closed at resistance

Finally today both the averages, Nifty and Nifty Bank, have converged at on charts! Until yesterday Nifty bank was under-performing Nifty by almost 1% but that gap has been filled up today where Nifty bank out-performed Nifty with almost that same lagging difference. Indicators are yet showing some strength for the bulls on weekly charts but today markets closed near strong resistance on the channel line. Though it …

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Nifty Nifty Bank

Nifty bank has all chances to out-perform this week!

Nifty bank has been a under-performer in last two weeks compared to Nifty Index.  But now looking the pattern on Nifty Bank daily chart is moving in a strong up channel and is appearing Upper resistance line while Nifty has already reached that trend line on similar pattern today. Technically, indicators have also given internal signal line crossovers to show still valid momentum …

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Nifty Bank

Trade is on the channel “Bank”

Banking stocks have given a good rally from the budget low and specially PSU banks, but now since last 3 sessions we are losing some strength in the stocks. Some Private sector banks are trading at 52 week high which posted strong results for the last quarter. PSU banks are the cause of weakening because …

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Nifty Bank

Banks are weakening

Nifty Bank had been on bulls spree rally since start of February but now somewhere daily charts are showing some confirmed sign of weakness for near term. As we all could notice that index was trading in small narrow upside channel which is now breached and confirmed with a close yesterday and day before. Though …

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Nifty Bank

Fear Factor on Banking

Banking sector has been the most out-performing sector in after budget rally. But now it has approached dangerous resistance level and trader should at least book some profits on longs. Technically on daily charts, Nifty bank is resisting near to the 100 day average which is at 15950 while even the option data is suggesting strong wall at 16000 for this week. …

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Nifty Bank

NiftyBank Target Hit: 15350 and Reversal expected

Banks finally gave some strong rally and it triggered my upside target of 15350 as recommended at Lenders of Last Resort on March 2nd. Strategy recommended was to go long on 15100 Ce and Short 15500 CE. As recommended to 15100 CE should have been covered yesterday which traded last at Rs.500. and recommend to hold 15500 CE forward for next weeks strategy As you guys can notice …

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Nifty Bank

Lender of Last Resort: Banks

Just after the budget, i posted Bank on Banking and recommended a Long strangle with the upside target of 14650 and surprisingly it is achieved in just 2 sessions.  Bank has proved its characteristic of being Lender of Last Resort but it was profits this time. Had been recommending PSU banks and specially SBI and BoB as a budget pick on various social …

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Nifty Bank

Bank on Banking

Banking stock has been the most under performing in the recent times. Especially, PSU Banks had been the most hard hit on NPA Concerns. But finally Nifty Bank charts are giving some positive divergence at the CMP:14036 with respective to RSI and Volume. As we all can notice in the chart attached, index has been trending in …

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