BANKNIFTY - BULLS "DAS" Day out !

5 ส.ค. 2022

Bank nifty bulls remained volatile confirming the top heavy around the 38 K mark. Bank nifty is the lead in terms of start of the larger uptrend and thus makes important statement on turns and corrections. With MPC decision day it is more or less well telegraphed either 35 and data dependency which will always be transitory, or a 50 and done for now approach. As long as this approach is Corporate first and common man next equity markets would bound to cheer in the near term. Inflation is grossly underestimated animal and hopefully it remains muted related to the historical highs. On the five hourly chart there is trend line break and coming around the 38 K assumes significance. Any rise in the morning can be sold with stops of yesterday high with profit taking of yesterday low can be a fair play with minimal size.