The Nifty Bank index too opened lower in tandem with the benchmark indices and remained under pressure throughout the session. Post policy announcement, the selling pressure accelerated as a result index ended the session well below 25000 marks. Looking at the hourly chart, index formed a bullish divergence pattern. On a daily chart, index has an immediate support near its daily swing low of 24800 also the daily 89-EMA comes near 24700. On the other side, 24985 will act as an intraday resistance above which the next resistance comes near 25115.
Stocks For Today
Name Entry Target Stop loss
GNFC Buy Around 450 471 441.50
BATA INDIA Buy Around 729 760 713
BAN KINDIA Buy Above 184.50 192 180
Click here to read the full report
Way2Wealth today has established itself as one of India’s ‘Premier Investments Consultancy Firms’, known for making investing simpler, more understandable and profitable for the investors. They offer a wide range of products & services viz: Equity, Derivatives, Currency Futures, Commodities Trading, IPO's, Mutual Funds, Portfolio Management Services & Depository Services.
For more information please write in to firstname.lastname@example.org
Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.