Monday, February 17, 2014

Break Out on Bank Nifty

Dear All,

>>> Nifty <<<

>>> Click the chart to see on full screen <<<

Nifty break out still awaited. High volatile market increases lot of nervousness on all traders. Confusion + volatile = Loss. Fall in inflation and CAD news from FM not helping nifty for a break out.

But still I advice to follow level and continue to hold long. 6085-6095 break for a positive signal from bulls. Lets wait and see.

>>> Bank Nifty <<<

>>> Click the chart to see on full screen <<<

Bank Nifty broken out of the pitchfork. I see this as a valid break out, though if the channel as given on chart gets broken means a fresh short covering.

>>> Axis Bank <<<

>>> Click the chart to see on full screen <<<

We have advised Axis Bank Long quite some times before. Even now the stock looks bullish. Break above the channel should trigger a big upmove. 1125-26 should confirm the uptrend. Yes we hold long still. Lets See.