We looked the the underperformance of Nifty Bank with Nifty IT ( checking with IT as that has been the leader in the current rally.)
Seems a shift from IT to banking.
Bank Nifty -
- Multiple Attempts at the trend line.
- A big candle near the breakout.
- Can head up towards 37700.
Nifty Private Bank Index
Still away from a breakout but not far.
Kotak Mahindra Bank still far from the breakout.
A quick look at some Banking charts
Before that a small plug on our recent launch –
Smallcase Launch -
HDFC Bank – Consolidating around breakout.
ICICI Bank – Maintain our stance of it being the leader.
SBI – Another leader at a good risk reward
Kotak Bank – The Laggard
Axis Bank – Big tick showing leadership signs finally.
Interesting Reads and Updates
1) Smallcap Shakeout/correction and crash.
This is a must read
2) Smallcase Launch -
Good time to subscribe to our services ( always better to start post a drawdown.)
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