Nifty bank looked weaker in today session it closed between 20 EMA ( Lower Side) and 200 DMA ( Upper Side)
Stocks like SBIN (Bearish) , YES Bank ( Mildly Bearish) would continue to show some weakness.
Indus Ind bank ( At support ) , Axis Bank ( At Support ) , ICICI Bank ( Bounced from 100 DMA),
HDFC Bank ( Trading in a Range) should keep the bank nifty...
ICICI Bank find strong support at 200 sma & nice Bounce with good Volume.
Bullish on stock due to below point:
1) Good Bounce from 200 sma with more volume greater than last 20 day average Volume.
2) Big Bullish candle at form at confluence of support zone 375-385 & 200 sma placed at 386.
3) Good risk reward ratio trader to enter.
JSW STEEL after a long downtrend given bullish breakout and above 50 sma.
Will it touch 200 sma? or will it respect the channel once again?
I'm bullish till supply zone 305 above 315 final target will be 330 sl 270