Bank Nifty 20th May 2015 Updates

Bank Nifty 20th May 2015

Bank Nifty today made a high of 15544 and after 2 PM started falling in super sonic speed. As per our Bank Nifty prediction and Bank Nifty Trend we have been alerting that Bank Nifty has a very important time cycle resistance on 18-19th May 2015 and Bank Nifty did show sure shot signs of reversal, if Bank Nifty now continues fall in sharp manner on 20th May 2015 Or 21St May 2015 then expect total collapse and mayhem in Bank Nifty Futures. Within this expiry i.e. 28th May 2015 we will see levels at least 2000 points lower from here. Bank Nifty trend remains down both major and minor trend remains down at small stop loss points or low risk entry points we must sell Bank Nifty Futures. To know when to sell where to sell how much to sell join us and follow our live messages.

Bank Nifty components Private sector Banks. We had openly written on our website that Axis Bank has a resistance between 568-572, Axis Bank touched 570.85 (Nse Cash Level) and started falling in fast manner. Axis Bank now is in danger of falling in ultra super sonic manner (I don’t track news but something can really push it lower significantly lower). Icici Bank is also very weak and our advise is to avoid Banking sector totally for now. We maintain our view on the sector to switch to sugar from Banking sector totally.

If Bank Nifty Futures confirms and gives us final confirmation of down move then stock selectively we can also sell Icici Bank and Punjab National Bank as both of them will lead and drag Bank Nifty lower.

Bank Nifty components Public Sector Banks. Punjab National Bank is very weak. Bank of India is also in the same category. We don’t expect anything to change for this sector in the next financial year also. Avoid shorting State Bank of India as it is relatively stronger within PSU banking space.

Can Bank is all set to break the previous bottom made on 8th May 2015 and based on Bank Nifty Trend it could very easily fall 7-10 percent from current market price (CMP). Yes bank looks like a false attempted breakout has failed open interest positions indicates there are lots of long positions are present as of today. Kotak Bank looks all set to break down below 1292 and is headed for 1174 Nse spot levels mentioned. Karnataka Bank looks all set to test 110 Nse spot levels mentioned. Bottom line is most Banking stocks look all set to make fresh lows and Banking sector looks to lead the downside.

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