Nifty Tips
Bank nifty made new high in this week & looking stronger for further up moves. Most of the banking stocks like SBI, Andhra Bank, UCO bank, Allahabad bank made new highs & still looking very attractive for more gains. In this week we might see the strong moves in Indian bank, Bank of India & Syndicate bank. So one may focus on long position in the banking stocks. In the downside the first support for bank nifty seems to be at the levels of 10485 to 10500. Decisive closing below this support zone may slip it till the lower level of 10350 in near run. In the bank nifty future one may initiate long position until close below the level of 10500 for the target of 11000.
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