Bank Nifty /Share Market / Stock Market Update 11.30PM 8th April 2015
Weakness in Bank Nifty continues, no signs of any reversal yet in Bank Nifty
Bank Nifty resistance at 18768 Spot Levels until this is taken down trend would continue.
Axis Bank,Yes Bank,Icici Bank look extremely weak within private sector banks.
Icici Bank dont even consider long positions untill and unless 328 Spot/Nse Cash level is crossed.
Minor and Major Trend both remain down in Bank Nifty. So avoid longs and reduce medium to long term positions in Bank stocks.
In our Portfolio Advisory Services we have advised to exit/reduce Banks both private and public sector and move to Sugar stocks like Renuka and Bajaj Hind. Trade has worked very well in our favor sugar stocks have zoomed in this week and we say this is the beginning of the beginning in sugar stocks. Sugar stocks are at the inception of a big bull run.
Bank Nifty Live updates will be given as and when possible.
Good Trading To You!