with both private sector banks and beaten down public sector banks participating further upward movement expected. beaten down public sector banks like Can-bank sbin seems to be bouncing. for both hdfc and hdfc bank may rise further(NR7days for both) both icici bank and axis bank exhibiting reversal candle. today' s low should be stop loss for any long position. and targets obvious from the chart.
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as bank nifty has risen much from its low level probability of pullback is there. hence one should not go long if there is gap up. buy on dip strategy should adopted
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