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BANKING STOCKS TRADING ON HIGH LEVEL – IS IT INDICATION OF FURTHER BREAKOUT??? SEE WEEKLY STUDY OF BANK NIFTY

BANK NIFTY1

BANK NIFTY WEEKLY STUDY

Last week we mention that, bank nifty taking support on every fall and sustaining its lows now, we mention he level of 11250 in bank nifty, and after that we directly given a level of 11700-11900, see the move came in bank nifty after our mention level it able to made high of 11771 which is almost in middle of our target levels.

Overall if we consider then we can see that bank nifty is much stronger that nifty now, and bank nifty is moved above its recent high level now.

So as per the technical view we can see that if bank nifty able to close above 11800-11900 levels then we can see big breakout up move in market till 12500-13500 also. But if upper level is not cross and it give negative close near this resistance level, then we can see down side support at 11450-11150-10900 levels.

So overall moving above resistance can produce well up move now, and closing in red near resistance level can lead for upside reversal in market.

 

Last week calls updates

GOVIND RUBBER 18.5 TO 21.5

NMDC 135 TO 144

RELINFRA 433 TO 443

AXIS BANK 1160 TO 1290

RPOWER 73 TO 76

ZEEL 265 TO 277.5

COMPUCOM 11 TO 14.25

RSSOFT 168 TO 184

MAZDA 110 TO 119

Current week calls

BUY UCOBANK above 81 sl 68 target 95-105

BUY ENGINEERS INDIA above 170 close sl 150 target 190-210

BUY SKF above 665 sl 625 target 710-750

BUY BAJAJ HOLDING above 905 sl 840 target 970-1050

BUY PRESTIGE ESTATE above 157 sl 145 target 175-195

BUY SIEMENS above 635 sl 585 target 700-740

BUY SAKTHI SUGAR above 18 close sl 13 target 26-35

BUY ESCORT above 130 sl 120 target 140-150

BUY BEML above 214 close sl 180 target 260-335

BUY TATA COMM above 300 close sl 280 target 335-355

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