NSE:BANKNIFTY seems to be in a range and there is lot of resistance on the UPSIDE from Sell Zone b/w 33450 - 33600 levels. If BNF manages to cross this with good volumes on BNF Futures contract then, next resistance can be seen at 33800 levels. On Downside, Upward trendline would act as good Support, if it breaks with volumes then next Downside target would be...
NSE:BANKNIFTY has given a good bounce this morning but in second half the selling pulled the BANKNIFTY down n it lost almost half of the Upside. Fresh buying in BNF can come only after 33800 resistance is broken with good volumes in Futures. Watch out for it. Any fall below 32800 level can bring further downfall in BNF and it can retest 32400 levels again which...
NSE:BANKNIFTY Is taking Support from a Trendline as well as Buy Zone. Until this BUY Zone is not broken on higher volumes on downside in BNF Futures, Its a Buy on dips kind of period. NSE:HDFCBANK has given a good support to NSE:BANKNIFTY and looks really strong on charts. If HDFC BANK continues to support BNF, then we might see levels of 33800 in quick time.
NSE:BANKNIFTY BANKNIFTY is looking weak like all the indices across the board. But there is a good Buyzone which can act as support between 32420 - 31870 levels. On Upside 33800 is a strong resistance, which seems tough to be broken for now.
Here's one that's "Benefit"ing from the bubble. Flat revenue, no growth in last 4 quarters, negative income yet trading at 7X Revenue. That's right, a P/S ratio twice as high as AMZN for a money losing company with no growth. Incredible. I wouldn't short it though, institutional holding is 120%. It's a continuous short squeeze. Just more proof we're in a...