The Nifty Bank fell over 1% on Thursday tracking weak global cues to close below its crucial psychological support of 48,000. The banking index fell 533 points to close at 47,487 while the Nifty50 saw a decline of 345 points to close below the 22000 mark. IDFC First Bank, PNB, HDFC Bank, and IndusInd Bank … Read more
YES Bank shares jumped 32% in the week to witness a breakout with strong volumes, indicating a significant base formation on the technical chart. “The support for the stock is established at Rs 27, and any pullbacks towards this support level present an opportunity to initiate fresh long positions. Sustaining above the support at Rs … Read more
It was yet another fantastic day for the banking pack on Dalal Street, as the Nifty Bank index surpassed the 43000-point mark for the first time ever on Thursday and notched more than 4% gains in the November derivative series. This is the second straight series of gains for the sectoral index, cumulatively rising 14% … Read more
ET CONTRIBUTORS In the truncated week that went by, the Nifty traded much on the analyzed lines. Despite staying volatile, it largely remained buoyant while it extended its move on the upside. In the previous week’s technical note, there was a categorical mention of the possibility of the NIFTY Bank Index (Banknifty) playing a catch-up … Read more
New Delhi: The Nifty50 on Monday staged a recovery from the day’s low to erase almost entire intraday gains. The index ended up forming a small bullish candle on the daily chart with small wicks. Analysts said the momentum stays positive as long as the 50-pack index holds above the 16,000-16,100 range. The upside hurdle … Read more
Technical and derivative analysts expect the Nifty to cross 18,000 this week, continuing its recent momentum that saw the Sensex touch 60,000 last Friday. Analysts expect the index to find support at 17,600-17,700. There is a possibility of profit booking bouts but they don’t see a deep correction. SRIRAM VELAYUDHANVICE PRESIDENT-ALTERNATIVE RESEARCH, IIFL SECURITIES Will … Read more