Bank Nifty overview

Traders are one who look for short term opportunity to make a descent profit. So they have to search for the scripts that suit them. In this my choice would be Bank Nifty, which has good chance to make 5 to 10% profit in coming days.

Look at the chart:

In this chart it's very clear that the near term good support level is at 8550 region. RSI also poised for a bounce back. Do not bother about Inflation, CRR, SLR, Repo, the correction which is needed has already done and its time to show some up move.

Already in my previous article i have mention about SBI and ICICI, in that list we can add AXIS also which has almost bottomed out. So short term traders can look on to these scripts.

As far as Nifty is concerned it has a good support at 4961. Intraday traders and swing traders can use this as stop loss to initiate long in Nifty.


Nifty spot levels for this week:

4944 - 4961 - 5004 - 5035 - 5074 - 5120 - 5160

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