As predicted earlier...bank nifty will be starting a move The move has started with (in all probability) with Hdfc bank...other banks will follow. Trend would be confirmed after 2 more sessions...ie 3 soldiers pattern. Great upside to be seen in nect 15/20 days. Bought a sept futures lot for hdfc bank and icici bank today. Lets see what is in store
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A word of caution. Since this is the last week of aug expiry, i see the rally today as a short covering rally rather than long buildup... trailing stop-loss needs to be maintained at all costs to protect capital. Any signs of exaution....a put option would be immediately required to be bought with a 10% stoploss