Monday, November 22, 2010

Bank Nifty and a few Banking stocks

Bank Nifty in daily charts is making a DIAMOND SHAPE pattern. This suggest a target of 12800 is probable if 12000 holds.


Keeping these in mind the following banking stocks could rise

AXIS BANK





The stock is moving within a channel and has possibility of rising from here to test the upper side of the channel.

PNB



Another stock with a DIAMOND SHAPE pattern. If bank nifty rises as per expectation of pattern it is forming then similarly the stock should probably rise to levels of 1350 as long as 1275 holds.

J&K BANK



The stock appears very strong, and might have completed its pullback. A fresh rally might be possible if the stock can trade above 885 and hold above 806.


Regards


 

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