BANK NIFTY . . still unsafe !

The Nifty opened in up gap rallied to a resistance and then sold-off... I received many calls from my participants saying they could make more than 75 Nifty points in intraday trading . . . Well, it satisfies me greatly, when my participants trade profitably both - up and down in intraday !.....

In my earlier blog post (dated 28-Apr) I had indicated exiting banking stocks especially if Bank Nifty breaks below 9500...Well it did break and is currently at 9050 levels.



But it seems there will be further profit booking in the banking stocks in days ahead as the target for the Bank Nifty is now near to 8600 points.

I expect that a break below 9000 may trigger further sell off in baning counters.

Happy (intraday) trading !
CA Rajiv D Khatlawala
www.investogyan.com