Bank Nifty 4th Dec 2015
Bank Nifty Minor Trend is Up. Bank Nifty Major Trend is sideways. Bank Nifty support for tomorrow 4th Dec 2015 is at 16900 and resistance is at 17295. If 16900 is taken out then Bank Nifty Minor Trend will turn down. Hence those traders holding trading longs in Bank Nifty need to be careful and trail positions accordingly.
Within the Bank Nifty Yes Bank Share Price Forecast is that it will continue its sideways movement within a overall range of 800 on the upside to 700 on the downside. We do not see Yes Bank outperforming in the short term so do not take trading positions on either side. When Nifty ends its final tezi cycle at that particular juncture we will see what to do.
Bank of India Share Price the overall chart structure is very weak. The Share Price continues to exhibit weakness. Though the share price has corrected from hefty valuations the Stock price still is not showing any signs of bottom formation process beginning. We maintain that such chart structures must be totally avoided as it is making classic lower tops and lower bottoms formation.
Bank of Baroda has a Minor support at 165-166 Nse spot levels mentioned and we do not see the share price outperforming the overall Indian Stock Market in the near term at least. So this one too is a clear avoid. To make money we must have structures like IDBI where on all dips or small stop loss points we can buy or like Axis Bank where the case is totally opposite sell on all rise or small stop loss points.
Andhra Bank Share Price has been overall in a range of 71-64 and currently a triangle formation is being made in the stock. The Stock must be bought only once stable with volumes above 71 or can be short sold once below 64.
PNB Share price has given a breakout above 142 and is currently in consolidation or giving a pullback post the breakout.
Good Trading To You!