Bank Nifty Outlook for Tuesday, 28th July | 50x Investments

Bank Nifty - Technical Analysis:
  • Bank Nifty had a gap down opening and continued downward, closing 3.5% down.
  • Bank Nifty breached the 22000 level before holding the 61.8% retracement level.

    Market - Driving Factors:
  • Aditya Puri, Managing Director of HDFC Bank , sold over 95% of his stake in the company. Multiple other insiders sold their HDFC Bank shares over the last week.
  • Gold is up over 2% and silver over 7% today, indicating that another shift to safe haven assets might occur soon with the uncertainties about equity markets rising.

    Bank Nifty - Outlook for Tuesday, 28th July:
  • The bears are strengthening their grip on the market indicating that we might be in for a sharp market correction in the coming few trading sessions.
  • A measured move to 21700 levels might be seen early in trade tomorrow.
  • Nestle India and Ultratech Cements are scheduled to announce their quarterly results tomorrow. Ultratech Cements' results will give markets an estimate about the condition of the realty and infrastructure sectors.


I have bought 22600 ce 2 days ago at 180 , now the price came to 80, should i sell this at loss or I should wait for the market to recover again
Algokart sushantsinghrajput23
@sushantsinghrajput23, Bank Nifty might move up temporarily due to profit booking by the bears and hopes of a fresh stimulus by the US Government. But fundamentals are still not looking great so sell on rise.
Sir 22100 c.w hold r sale sir for tomorrow
Algokart chramakrishna03
@chramakrishna03, More downfall expected in coming days if crucial support levels are broken
Sir I hold a ce 22400 for expiry

Just like 20 points loss I'm going in

Give me a possible update wthr to hold or to give immediate sell?
Algokart ajmalshamsudeen
@ajmalshamsudeen, sell it when it rises. Banknifty doesn't seem bullish in coming days
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