Key Points
Rohit Srivastava, Founder & Marketing Strategist, Indiacharts.com, says we should be coming to the end of the corrective phase..
Similarly on Bank Nifty, we have fallen below the Monday low but we will be watching a slightly broader average, the 20-week average which has been put to test last week and we touched it which is at around 43,869...
As long as we do not close below that on a weekly basis, I would like to think close to that number wherever we are plus or minus, this should be a point from where Bank Nifty finds support and resumes its upward move again..
So you are making a case that after knocking at 20,000, we came all the way to 19,257 or thereabout and this immediate bout of drudgery, the kind of lethargic move, may be coming to an end and risk reward could be favourable to buy at these levels?..
PSU banks within the banking space have been the stronger ones and they should continue to be so.. (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets..
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