Abhijit_Paul

Mentorship InstaView 21 Oct’21: Banks Save the Day

NSE:NIFTY1!   S&P CNX NIFTY INDEX FUTURES

Nifty View: A decently volatile day for the benchmark Nifty50 index as it closed down a little over 60 points in today's session. So far, we have three consecutive negative days from the index, losing almost 3% on a high to low basis. The short-term trend is still up, but vulnerable as the index nears the psychological level of 18,000. However it was clearly the banking stocks which saved the day today. Banknifty index was up over 1% led by strong performance from stocks like Kotak Bank and ICICI Bank. Strategically, let's continue with the bullish bias and be careful especially if we are trying to trade mid and small cap stocks. It will be prudent if we focus more on the large gaps at this juncture in the market. Please watch the video for a detailed analysis of the index and stocks.

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