Traders can adopt 'buy-on-dips' strategy for Nifty Pvt Bank: Ravi Nathani

According to the technical analyst, traders can employ 'buy-on-dips' strategy for Nifty Private Bank, Nifty PSU Bank, and Nifty Financial Services indices

Nifty Private Bank
Last close: 19,956.70

The index has demonstrated an impressive recovery, as indicated by its sharp bounce from the lows of the previous day, which portends some promising prospects in the near future.

In the last two weeks, the index has suffered a substantial decline, causing it to enter the oversold territory, and opening up the possibility of a technical resurgence.

The magnitude and rapidity of the index's descent imply that any ensuing recovery is likely to be equally sharp, calling for traders to exercise vigilance and adopt a stringent stop-loss approach set at 19,725.

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