NIFTYBANK: Hopes at the top, Fears at the Bottom.
This one so far completely doing the contrary.
1. You see good news on the banking sector, many politicians and the corporates in social media tweet how the sector is growing.
2. Good results, mergers conclude.
3. The proof is the Private Sector banks are underperforming, while PSU on the rampage.
4. CASA driving, or the cause driving.
5. In sum move past 48300 hopes rekindle, moves below 47700 fears re-surface.
It is also closing the count of wave 3 of the smaller degree, we may have to flag them as end of wave A. While break above 48300 confirms the wave 3 in smaller degree in motion. Clearly not a place to dabble with larger stake.
That sums up 47700-48300or 47500 (being the 0.5% retracement of the entire fall)
1. You see good news on the banking sector, many politicians and the corporates in social media tweet how the sector is growing.
2. Good results, mergers conclude.
3. The proof is the Private Sector banks are underperforming, while PSU on the rampage.
4. CASA driving, or the cause driving.
5. In sum move past 48300 hopes rekindle, moves below 47700 fears re-surface.
It is also closing the count of wave 3 of the smaller degree, we may have to flag them as end of wave A. While break above 48300 confirms the wave 3 in smaller degree in motion. Clearly not a place to dabble with larger stake.
That sums up 47700-48300or 47500 (being the 0.5% retracement of the entire fall)
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