ICICI & KOTAK Bank are almost up by 2% in the first hour which caused the spike in BankNifty but still it failed to break 30512 at the moment which is a strong resistance breaching it will trigger long again. At the moment (10.59 AM) all the four heavy weights of banknifty i.e. hdfc, icici, kotak and axis comprising 70% weightage of the index are experiencing profit booking with good volumes. Bias - is still bearish for the day !
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Sl was hit at 30485 ! booked 62 points !
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Above chart is of spot, trade details are of futures