Nifty Bank IndexAlış
Bank nifty: Take off stage
Güncellendi
Bank nifty is ready to take off after ending the november F&O series down by 5%, first fall in 4 months after giving positive returns in the past three months. But there are ample reasons to be bullish again.
REASONS TO BE BULLISH:
1) The rising trendline right from the weekly low is holding the index very strongly, also a promising support is seen in my magical bands setup.
2) Higher high & higher low structure which indicates the trend is up.
3) Support taking on RSI in weekly time frame which indicates that we are still in the bullish trend.
4) 36500-37000 is now a crucial support for bank nifty, if this level is held properly then we might end the year around 40k and see new ATH by january-february 2022.
5) In banking space, PSU banks are now availaible at very attractive valuation. Earlier we saw pvt banks were the ones who were taking the index up but now there will be run up in psu banking stocks too when government disinvests its stake. We may see PSU banks outperforming the pvt sector banks going forward.
My favourite picks: SBIN, CANARA BANK, FEDERAL BANK, BOB & PUNJAB NATIONAL BANK.
CONCLUSION: I see the year ending somewhere around 40k mark on bank nifty and I expect new ATH by feb 2022.
REASONS TO BE BULLISH:
1) The rising trendline right from the weekly low is holding the index very strongly, also a promising support is seen in my magical bands setup.
2) Higher high & higher low structure which indicates the trend is up.
3) Support taking on RSI in weekly time frame which indicates that we are still in the bullish trend.
4) 36500-37000 is now a crucial support for bank nifty, if this level is held properly then we might end the year around 40k and see new ATH by january-february 2022.
5) In banking space, PSU banks are now availaible at very attractive valuation. Earlier we saw pvt banks were the ones who were taking the index up but now there will be run up in psu banking stocks too when government disinvests its stake. We may see PSU banks outperforming the pvt sector banks going forward.
My favourite picks: SBIN, CANARA BANK, FEDERAL BANK, BOB & PUNJAB NATIONAL BANK.
CONCLUSION: I see the year ending somewhere around 40k mark on bank nifty and I expect new ATH by feb 2022.
Not
DEC- JAN Range: 34000-40000
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