Mentorship InstaView 08 Sept’21: Banks save the Day


Nifty View: Intraday volatility stays on the higher side as the benchmark Nifty index oscillated within a day’s range of 125 points. At a close of 17,386, it was a flattish positive close from the index, up just 10 points. On the daily time frame, we have clear signs of directional uncertainty thanks to formation of Dojis or small bodied candles. If banks continue to support the index like they did today, then a break down is unlikely and the index might as well inch further up towards a new life high. So continue to focus primarily on the private sector banks. Maintain a cautiously bullish stance on the overall market.

Watch the video for a more detailed analysis.

Thank you for following my work and please feel free to share your thoughts and suggestions.      
 
Trade Well. Trade Wise.