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Bank Nifty is showing tremendous probability of an upmove. Only HDFC Bank needs to come to the party. Any short move will be a trap to squeeze all the shorts and then there will be a short covering. Enter long once price closes above 51475 only.

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The US Markets decline last night is just the beginning of some further expected correction. The signs were all over the place. The indices had rallied and now there is bound to be some correction. I see IXIC correcting further to 16k levels in the coming weeks. Do not indulge in fear mongering and think of it as recession and such fancy words used by the media....

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Nifty could see some correction if 25281 is breached on the downside. Only HDFC Bank can contribute some upside movement but it'll be better off taking long position on Bank Nifty rather than Nifty.

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The Nifty Bank Heavyweights have all completed their rallies. All but two names. I had already posted about HDFC Bank which is on the cusp of explosion. The next big name in this list is Kotak Bank. There is a good price consolidation that is happening. This is a multi year consolidation. Once there is a strong Weekly candle close above 1900 level, it is ripe to...

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Britannia has gained Bullish momentum after consolidation. Long positions can be taken for a Swing Target to 6300 levels.

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Bajaj Finserv is on the cusp of a multi-year breakout and looks ripe! Potential up move of close to 50% on a Positional Basis. First target - 1885

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TATA Consumer has given a beautiful breakout. Target 1350!

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HDFC has now entered a Bullish phase as I posted in my post yesterday. Bank Nifty swing long position can be taken for Target to 51,475 - 51,500 thereabouts. Maintain SL as today's low.

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Radico Khaitan is having a good price squeeze and is getting ripe for a breakout. Long position can be taken once price closes around 1738 level. First Target is around 1930 level.

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HDFC Bank is setting up for an explosive move which could really propel Bank Nifty! First swing Target would be 1825.

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Bajaj Finance is showing buying from the lows. Go long for a Target of 6850. SL will be today's low.

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Nifty is the stronger of the two indices in comparison to Bank Nifty and is showing more momentum. If Nifty closes positively above 24,334 a long trade can be taken for a modest target to 24,555. SL will be the present low of today, i.e. 5th Aug 2024.

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Bank Nifty showing strength for a quick Long target to 51,150

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Taken a quick scalp on a pull back trade on Nifty on the long side. 101 points on the spot chart. Trade the price, not the view!

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ITC has given a weekly breakout. This is a multi-week breakout. It would be advisable to wait for a re-test and then look for a long trade in Aug/Sep. Potential Target - 610 Holding Time - 60 days

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Bank Nifty is much weaker than Nifty this week and I have entered short for a trade till 51,755 as First target.

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VBL set up looks good and good buying happening at lower levels. A Target of 1765 looks on course for July series. SL - 1565

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Mahindra Holidays looks good on the higher time frame. A Target of 600 can be set for the year 2024. Holding period would be 3 to 4 months from today. An ROI of 32%.