Bank Nifty /Share Market / Stock Market Update 1AM 8th April 2015
Bank Nifty looks weak. Both Minor and Major Trend have turned down and that’s not good news for Bank Nifty bulls. Private sector banks have broken major swing lows and now are halting pullback exactly at resistance levels and falling.
We have advised our Medium to long term Investors to reduce exposure to the sector as a whole, these weak structures are not going to change in a hurry. Once can switch over to Sugar sector at least partially. We have advised Accumulate Sugar stocks as Raw sugar prices will start zooming up very soon.
Renuka, Bajaj Hind will be multibaggers. Buy & Hold for 2-3 years. Accumulate them on all dips/declines.
Bank Nifty resistance at 18768 Spot Levels until this is taken down trend would continue.
Good Trading To You!