Bank Nifty - Moving Up Steadily on Weekly Chart (Next up 19,700)

Aug 19, 2016

Since 13500, the price action is moving up steadily with consistent rally and breakouts. Building new highs and new lows on weekly chart. This week it has done the same thing and breaks out from previous consolidation. It signals bullishness in the price movement and now 19700 or 20000 seems achievable by next week. It is good time to go long on private and public banks like Kotak Bank, Yesbank, Federal Bank, Syndicate Bank. They are trending well and with good sync with bank nifty.

Target; 19,700
Stl: 18800