BANKNIFTY and BANK STOCKS
It's been an year the entire market is in down trend and correcting. Looking at weekly charts, it looks Banking sector is bottomed out around our favorite set up 200 WEEK EMA. Below charts shows that the market is taking support around 200 Week EMA and bouncing back with RSI Positive divergence.
We always suggest to be cautious when stocks are trading too away from 200 EMA ( either weekly or Daily) in our trainings and Technical reports with charts. Entire market and especially Banking sector was corrected for almost a year from the time it was away from 200 WEEK EMA. Now Banking sector is near 200 WEMA and also 61.8% retracement of previous raise. We are proud to say that this is our (Indorse Financials) favorite set up for positional trading.
We already took positions in Bank Nifty, ICICIBANK and AXIS BANK.
However few other Banking stocks like SBIN, BANK of BARODA also made doji in weekly charts. Be ready to take entries on breakout of these levels.
We, Indorse Financials feel that Indian markets completed corrective 4th wave and now ready for 5th wave upside. So be confident and be a buyer in markets.
Charts are below for Bank Nifty, AXIS BANK and ICICI BANK.
BANK NIFTY
BANK NIFTY made a piercing pattern on Weekly with a good close. Price moving above last week high may trigger a buy. So we suggest a strong buy for next 3.5 weeks with a target price of trend line shown in charts.
AXIS BANK
AXIS BANK made a Bullish engulfing pattern in weekly charts. Many a times people struggle to make money in markets. We suggest with our reports and charts that simple things work great. We recommend a buy on AXIS BANK on moving above last weeks high with trend line as price target.
ICICI BANK
ICICI BANK made a piercing pattern on weekly chart same as Bank Nifty. We suggest a buy in stock with price target of upper Trend line.
There are many stocks with similar set up at this moment. Stocks like LT, BHEL, BANKBARODA, AMBUJACEM, eCLERX, NIFTY,NIFTYBEES and many more.... So BUY it and dont MISS.
It's been an year the entire market is in down trend and correcting. Looking at weekly charts, it looks Banking sector is bottomed out around our favorite set up 200 WEEK EMA. Below charts shows that the market is taking support around 200 Week EMA and bouncing back with RSI Positive divergence.
We always suggest to be cautious when stocks are trading too away from 200 EMA ( either weekly or Daily) in our trainings and Technical reports with charts. Entire market and especially Banking sector was corrected for almost a year from the time it was away from 200 WEEK EMA. Now Banking sector is near 200 WEMA and also 61.8% retracement of previous raise. We are proud to say that this is our (Indorse Financials) favorite set up for positional trading.
We already took positions in Bank Nifty, ICICIBANK and AXIS BANK.
However few other Banking stocks like SBIN, BANK of BARODA also made doji in weekly charts. Be ready to take entries on breakout of these levels.
We, Indorse Financials feel that Indian markets completed corrective 4th wave and now ready for 5th wave upside. So be confident and be a buyer in markets.
Charts are below for Bank Nifty, AXIS BANK and ICICI BANK.
BANK NIFTY
BANK NIFTY made a piercing pattern on Weekly with a good close. Price moving above last week high may trigger a buy. So we suggest a strong buy for next 3.5 weeks with a target price of trend line shown in charts.
AXIS BANK
AXIS BANK made a Bullish engulfing pattern in weekly charts. Many a times people struggle to make money in markets. We suggest with our reports and charts that simple things work great. We recommend a buy on AXIS BANK on moving above last weeks high with trend line as price target.
ICICI BANK
ICICI BANK made a piercing pattern on weekly chart same as Bank Nifty. We suggest a buy in stock with price target of upper Trend line.
There are many stocks with similar set up at this moment. Stocks like LT, BHEL, BANKBARODA, AMBUJACEM, eCLERX, NIFTY,NIFTYBEES and many more.... So BUY it and dont MISS.
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