For Infosys, keep a stop at 785 and go long. Add to the position between 800-803. Book profits at 805.
The inability of the index to climb resistance levels of 31,000 and 31,350 may result in the index slipping lower towards its 100-DMA of 29,147.
Nifty Bank is well positioned above 29,800 on closing basis, the index needs to hold a range of 30,150 - 30,000 to create an intra-day base for trading
Experts advise that investors better stick to quality names with high predictability on future earnings, to minimise downside risk
A Golden Crossover occurs when the short-term average crosses/moves above the long-term moving average.
The fall of approximately 500 points on Nifty Bank ranging from 26,644 to the current intra-day levels of 26,160 along with gap down have hurt the trading psyche
The technical signals suggest that a downtrend is much more likely. The rally on the RBI news is unlikely to last long
In July, the index outperformed frontline indices by rallying 8% as against 5.8% rise in the Nifty
The expert sees the Nifty Bank to settle its weekly expiry on Thursday at around 23,300 level
The bull run continues with the Nifty hitting another new high for calendar 2017
IndusInd Bank, South Indian Bank, YES Bank, Federal Bank, BOB, SBI and ICICI Bank were up 2% to 6%.
If FPI selling continues, the rupee could collapse to historic lows
SBI, BOB, BOI, Oriental Bank, PNB and Union Bank of India were down more than 2% each on the NSE.
ICICI Bank, Federal Bank, Axis Bank, IndusInd Bank and Kotak Mahindra Bank were up 1%-2%.
Indian Bank, Canara Bank, IndusInd Bank, Punjab National Bank were up more than 2% each on the NSE.
Axis Bank, ICICI Bank, IndusInd Bank, HDFC Bank and SBI from Nifty Bank were up 1%-2% on the NSE
SBI, ICICI Bank, Canara Bank, IndusInd Bank, IOB, BOI, Oriental Bank and Andhra Bank were up 3%-6% on NSE.
Nifty Bank index was up 2% or 336 points at 17,015 as compared to 1.5% rise in the Nifty 50 at 03:09 pm.
SBI, ICICI Bank, Andhra Bank, BOB, Allahabad Bank, PNB and Indian Overseas Bank were up more than 2% each.
HDFC Bank, ICICI Bank, Corporation Bank, Dena Bank, J&K Bank, Karnataka Bank, Karur Vysya and South India Bank touched their respective 52-week lows in intra-day trade on the NSE.