Bank Nifty 22nd Jan 2016

Bank Nifty 22nd Jan 2016

Bank Nifty Minor Trend is oversold. Bank Nifty Major Trend is bullish but only for the short term. As per our Bank Nifty analysis / Bank Nifty prediction we do not see Bank Nifty heading much lower than 14100-14500 Bank Nifty spot levels mentioned and we see Bank Nifty headed higher from current prices. As advised previously those traders or investors who are stuck in Banking stocks should average at lower levels and then get out as soon as their prices come. We do not see this sector doing much in the coming rally (in an absolute terms it will do but relatively this sector will underperform so better to get out on pullback or rise from this sector) As we have advised our PAS (portfolio advisory clients ) to avoid exposure to this sector totally. If from institutional side there has to be compulsive exposure then please take exposure via IDBI Bank as IDBI Bank looks much better from a medium term perspective or may be even HDFC Bank but we must not get directly into Bank Nifty or most other banking stocks.

Public sector banking if someone needs to take exposure then one can buy State Bank of India with a target price of 223. We would rather say buy into sugar stocks but if it is mandatory to take exposure then one can consider State Bank Of India.

Bank Nifty support for tomorrow 22nd Jan 2016 is at 14100-14500. On dips towards 14100-14500 average only if you are stuck in banking stocks or else avoid this sector totally.

Good Trading To You!