Wednesday, September 05, 2012

Nifty - On Trend Line Support

Dear All,

Bank Stocks are the more Beaten up Stocks in todays Trade.

I hope every one remember what i have given on weekly Update for Bank Nifty and Axis Bank, Click the below Link so see the same

http://niftyforall.blogspot.in/2012/09/weekly-review-01-sep-2012.html


Nifty cant sustain above 5239 due to weakness in Bank Stocks and Metal Stocks. Losing scope for CRR cut, Fitch and Morgan downgraded Indian Banks - hit the street.

HSBC PMI index rose to 55.0 in August form 54.2 in July failed to cheer the market.


Trend line Support - if Breaks may be a real damage to Bulls, if Holds then a relief rally possible. Today Night ECB meet may decide the trend for tomorrow. Lets wait and see. Cheers