Technical Analysis

Bank nifty and Nifty futures has been trading higher for almost 1.5 years. This all started back ion the month of September 2013 when Shri Narendra Modi was declared as PM candidate of BJP. After registering a massive win by BJP in general election we saw lots of bulls joining the stocks and moving it northward. Today, my analysis is on banking sector which was the best out performer in this bull run. Watch below video for banknifty and banking sector analysis.

Advise for Investor:

We are expecting this up move to continue in banking stocks, especially in State bank of India, Yes bank and Axis-bank. We are extremely bullish on SBIN, every decline should be taken as an buying opportunity. Keep building long positions, If you are an investor then keep buying in small quantities (about 2% of your total allocation). This will help you to keep your risk as low as possible and give you benefit of current up trend.

 

Advise for Traders:

Traders who are looking for short term gains, advised to avoid any trading positions overnight (carry forward for next day) as volatility is likely to be high. We have a budget session on Saturday 28, February 2015. This will be very important event traders will be looking at, therefore positional trading is not advisable.

Article published on 22 Feb 2015.

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