Bank Nifty 14th Jan 2016
Bank Nifty also bounced back in style, thanks to all round buying in Nifty basket from 1.15PM today. Bank Nifty spot made a low of 15532 and then began rallying higher and almost made a high of 15960. Bank Nifty Minor Trend is Neutral. Bank Nifty Major Trend is Neutral. As per our Bank Nifty analysis / Bank Nifty Prediction we do not expect any significant outperformance from bank Nifty or from the banking sector as a whole and we expect these stocks to lag the broader Indian Stock Markets hence we recommend to avoid this sector totally and instead focus on sugar sector and buy Bajaj Hindustan, EID Parry and Renuka Sugars on dips.
Axis Bank, Icici Bank, State Bank of India are expected to report very bad set of numbers for Q3FY16 although we do not recommend to short sell them we strongly advise to stay away from these three stocks in particular as these stocks are trading favorites of many traders.
Good Trading To You!