Anand James, Chief Market Strategist at Geojit Investments, believes Nifty’s recent pause is a temporary breather, with bulls likely to regroup as long as the index holds above 24,850. He sees scope for a rebound towards 25,200, though warns that a slip below 24,740 could open the door to deeper downside. Edited excerpts from a … Read more
Strategy Positions: Sell 1 lot Bank Nifty 20 October 38200 Put at 82 & Sell 1 lots 20 October 40400 Call at 80, Total premium in-flow: 162; Target: 20; Stop loss: 250. Rationale: The banking index gained marginally last week and largely consolidated near 39,000 levels despite continued depreciation in rupee and rise in bond … Read more
As RBI’s three-day monetary policy committee meeting began on Wednesday, Nifty Bank ended the day 1.5% lower after losing nearly 600 points. The banking index failed to protect its 50-DMA and was below 5 out of 9 oscillators. On the daily charts, it formed a bearish candle and has been making lower highs and lower … Read more
Under pressure for the fourth day in a row, Nifty Bank ended Monday with a loss of over 900 points. The banking index formed a bearish candle on the daily scale. On the daily charts, the index formed three black crow patterns, indicating that bears have taken control. Chart readers say that till the 39,800 … Read more
After forming a small-bodied bullish candle on the daily scale, the Nifty Bank index closed the day with a gain of around 75 points. The index has been consolidating in the range of 40,500-41,500, and analysts say traders should brace for volatility in the coming days and trade on both sides. Nifty Bank, which is … Read more
Nifty Bank opened with a gap-down of more than 230 points and moved in line with the broader market. It witnessed weakness till the 40,500 zones and closed with a loss of around 430 points. Although the banking index corrected by more than a per cent on Friday after scaling a new peak of 41,840.15 … Read more
After hitting new record highs, the Bank Nifty failed to hold on to the momentum and settled with cuts on Thursday, snapping its five-day winning streak. The banking barometer plunged sharply on Thursday, about 631 points from its new peak of 41,840.15 but did not breach the 41,000-mark. For the day, the bank index closed … Read more
Like the Nifty50 index, Nifty Bank extended its gains for the fourth straight session and rose 0.74 per cent, almost in line with its headline peer. The banking index continued the momentum it had in the early hours of trade and managed to hit the intraday high of 40,904.30 on Tuesday. For the day, the … Read more
Nifty Bank continued to outperform the headline index Nifty on Monday by rallying 385 points or about 1 per cent higher to end the day above its immediate hurdle at 39,800. All the stocks in the index ended in the green, with , , and rising between 2-5 per cent. Here’s how analysts read the … Read more
With , and leading the charge, the Nifty Bank index outperformed in a volatile week and ended 433.85 points or 1.1 per cent higher on a weekly basis. For the day, the banking index closed at 39,421, up 120 points or 0.3 per cent, and formed a small-bodied Bullish candle on the daily scale. On … Read more