BANKING NIFTY (NSE;BANKINGNIFTY)
List of all major banks
Axis Bank Ltd.,BANKS,AXISBANK,EQ,INE238A01026
Bank of Baroda,BANKS,BANKBARODA,EQ,INE028A01013
Bank of India,BANKS,BANKINDIA,EQ,INE084A01016
Canara Bank,BANKS,CANBK,EQ,INE476A01014
HDFC Bank Ltd.,BANKS,HDFCBANK,EQ,INE040A01018
ICICI Bank Ltd.,BANKS,ICICIBANK,EQ,INE090A01013
IDBI Bank Ltd.,BANKS,IDBI,EQ,INE008A01015
Kotak Mahindra Bank Ltd.,BANKS,KOTAKBANK,EQ,INE237A01010
Oriental Bank of Commerce,BANKS,ORIENTBANK,EQ,INE141A01014
Punjab National Bank,BANKS,PNB,EQ,INE160A01014
State Bank of India,BANKS,SBIN,EQ,INE062A01012
Union Bank of India,BANKS,UNIONBANK,EQ,INE692A01016
MARKET ANALYSIS
| Shares Traded |
82949333 |
Current Price: 3450
Current Trend: NEGATIVE (SELL) BIAS.
Taking Support At: 3250-3160.
Taking Resistance At: 3650-3730
Stop Loss: 3520
Target: 3250. |
| 52 Week High |
7990.45 |
| 52 Week Low |
3338.80 |
| All-Time High |
10774.15 |
| All-time Low |
3338.80 |
| Turnover (Rs. lakhs) |
247450.87 |
Technical Report
Technically Bank Nifty seems to be in profit booking phase. More profit booking is expected in BANKING NIFTY soon.
20DMA are crossing 200DMA from upper side which is giving selling signal also.
MACD is also making it a weaker index, it is at over bought stage, trend reversal is occurring and expected to follow further till the level of 3250.
MFI is also in the over sold phase which is giving selling signal. More profit booking is carried out further.
View on Two Major Banking Stocks
STATE BANK OF INDIA.
SBIN will take support at 915-885 and resistance of 970-1025. we recommend to go short(sell) in this counter. SBIN is in over sold phase and more profit booking yet to come. One can go short in SBIN for the target of 850. with stoploss of 985.
ICICI BANK.
ICICI BANK will take support at 255-200 and resistance at the level of 290-345. One can go short in ICICI BANK with the stoploss of 295 and target of 225.
Our recommendation is for 10 to 15 trading days.
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