The CNX Bank chart has stood still at 9720 as if its resting and gathering energy for an upward breakout.Ya its true.If CNX Bank Index is able to cross 9825 there are positive signs that the CNX bank Index will touch 10300.9 (Of course before playing with the ressistance of 9975.
I dont think this Index will goe below 9647,its major support.Now if my prediction gets right,then one can expect the big Banks to rise as ultimately yhey would be the ones to bring this rally for Bank Index.The Cnx Bank Index was up 0.43% from Last week.
Be careful and cautious of Kotak Bank.If it Stays below 474 on Monday it can still go down and touch 450 before bouncing back.
SBI:Looks good as it has just crossed it Ressistanec of 1940 and given a close at 1945.This sounds good.And SBI can be one of the banks to pull this index up.
Axis Bank:has alraedy gained much in the last week but still has to room to go up atleast till 1160.The Friday's close was 1133 on NSE.
bank Of Baroda is one such bank that can contribute to the upward movement of the CNX bank Index.At the current CMP of 787 it looks good and positive.Upper Target for Monday is 784 and Support is 766.
Bank of India and Canara Bank are still not that bullish.
The Ressistance faced by ICICI bank at 893 can play a spoilsport.The CMP of ICICI bank is 883.90 on NSE.Still its good as long as it stays above 884.
I dont think this Index will goe below 9647,its major support.Now if my prediction gets right,then one can expect the big Banks to rise as ultimately yhey would be the ones to bring this rally for Bank Index.The Cnx Bank Index was up 0.43% from Last week.
Be careful and cautious of Kotak Bank.If it Stays below 474 on Monday it can still go down and touch 450 before bouncing back.
SBI:Looks good as it has just crossed it Ressistanec of 1940 and given a close at 1945.This sounds good.And SBI can be one of the banks to pull this index up.
Axis Bank:has alraedy gained much in the last week but still has to room to go up atleast till 1160.The Friday's close was 1133 on NSE.
bank Of Baroda is one such bank that can contribute to the upward movement of the CNX bank Index.At the current CMP of 787 it looks good and positive.Upper Target for Monday is 784 and Support is 766.
Bank of India and Canara Bank are still not that bullish.
The Ressistance faced by ICICI bank at 893 can play a spoilsport.The CMP of ICICI bank is 883.90 on NSE.Still its good as long as it stays above 884.
No comments:
Post a Comment