Bank Nifty Live Update 1.45PM 7th April 2015:
Bank Nifty Minor Trend has turned down. Major was already down. Now onwards no longs in bank nifty/ banking stocks.
At low risk entry points we will look to sell/short Bank Nifty.
Share Market Trading Calls / Bank Nifty Live Update 10.40PM 6th April 2015
Bank Nifty Minor Trend is up however Major trend is down and last two days there have been visible underperformance with respect to Nifty 50. (and that’s not a good sign for bank Nifty bulls)
One of the leaders of Bank Nifty (Axis Bank is also showing good underperformance all red flags for bulls)
Bank Nifty spot has resistance between 18703-18763 if fails around 18763 then expect Mayhem in Bank Nifty.
Will provide Bank Nifty Live updates during market hours or just after the RBI policy. Important swings lows have been very easily taken out so if any of those patterns have to be negated then Bank Nifty has to rally on 7th April and it has to rally hard.
Good Trading To You!