Bank Nifty Outlook for 10-Sep-2017(Monday)---Strong Buy
We feel Bank Nifty has bottomed out near 27200 levels for short term at lest.
Last 3 days of candles similar to Hammer formations confirms that there is strong support for the stock in these levels, shorter tried hard to push index down but failed to do so, which lead to short covering. Now Shorter will be demotivated to short the index again after 3 failures, so we expect a good upside here.
What we can do Buy at current levels Stop loss 27300 Target 27700/27900
I think bank nifty unable to hold 27800 level till thrusday expiry
Bcoz
HDFC bank daily chart down
Axis bank daily chart on the way of down
Icici daily chart down
Kotak daily chart down
Sbi daily chart down
How to say strong buy ?
I see 27000 and 26500 on cards
Only one hope very strong good news which bnf lift across 28000
Nifty_Club_India
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@SantoshChavan32b595c72e524d3e, bro the way you analyse the charts r different then what i do.
so you can go and sell the bank nifty.
about individual stock, I watch axis & icici bank both are in my buy list and looks quite good on daily charts. you will see strong upside in both of these stocks going forward.
Bcoz
HDFC bank daily chart down
Axis bank daily chart on the way of down
Icici daily chart down
Kotak daily chart down
Sbi daily chart down
Main reason
HDFC weight 36%
Icici 16%
Kotak 14%
Sbi 9%
Axis 8%
Indusand 8%
This top 6 hold 90% bank nifty
How to say strong buy ?
I see 27000 and 26500 on cards
Only one hope very strong good news which bnf lift across 28000