We have a rounding bottom pattern in
CNXFINANCE
and all details are on the chart.
Nifty Fin Services - Rounding Bottom pattern has given a breakout. Target does not make sense here due to the growth in the sector Banking/NBFC/AMC/Insurance. It is important to understand the constituents of the Index and look at their charts and fundamentals too. I have selected 4 scrips among the pack that looks v bullish on charts. 1) BajFinance 2)HDFC Bank 3) HDFC 4) ICICI. These stocks are worth investing if you are not holding it. Among the four I would suggest BajFinance and I am personally holding it from 800 levels and have added more during the COVID lows. Others in this sector are decent too but I do not have any particular interest in them.
In other matters NSE is also launching weekly futures and options in this Index. Initially the volumes may be less but then it will grow massively unlike Nifty IT Index FNO. All the best Y'all!
CNXFINANCE
and all details are on the chart. Nifty Fin Services - Rounding Bottom pattern has given a breakout. Target does not make sense here due to the growth in the sector Banking/NBFC/AMC/Insurance. It is important to understand the constituents of the Index and look at their charts and fundamentals too. I have selected 4 scrips among the pack that looks v bullish on charts. 1) BajFinance 2)HDFC Bank 3) HDFC 4) ICICI. These stocks are worth investing if you are not holding it. Among the four I would suggest BajFinance and I am personally holding it from 800 levels and have added more during the COVID lows. Others in this sector are decent too but I do not have any particular interest in them.
In other matters NSE is also launching weekly futures and options in this Index. Initially the volumes may be less but then it will grow massively unlike Nifty IT Index FNO. All the best Y'all!
