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The Bank Nifty shed 1.2 per cent to closed at 12,588 levels, While BSE Bankex was down 1.2 per cent at 14,400. The benchmark Nifty was up 0.3 per cent at 6,721 and Sensex ended at 22,446, up 0.3 per cent.
The decline was led by losses in private sector names such as Kotak Bank, Federal Bank, ICICI Bank and HDFC Bank, each of which fell about two per cent.
On Tuesday Bank Nifty recoverd marginally with 10 out of 12 stocks listed on the index trading in green. ICICI Bank, Canara Bank and State Bank of India were the top gainers at this hour.
Ravi Nathani, Founder and Technical Analyst takes a look at charts of banking stocks and chalks out trading strategies for short-term gains. Also, he picks mid-cap stocks that are poised to give maximum returns in the run-up to the elections.
Experts are of the view that levels could not be given for benchmarks since they are in 'uncharted territory'. Despite this, what strategy would you suggest to investors to saddle this run?
Best trading strategy for Index traders would be to buy on dips with a target expected 6780.
What banking stocks would you recommend picking up after yesterday's dip?
I am bullish on KOTAKBANK whereas target expected for the stock is 790
What about IDFC, L&T Finance, LIC Housing Finance and IFCI? Is it ok to enter these stocks at current levels
In all 4 stocks best stocks to buy is LIC & IFCI whereas target expected for LIC is 252 & IFCI is 29.50
In the mid-cap space, Wockhardt is up over 12% today while SKS Microfinance is up over 8%. Your views?
