The Trend Deciders – Bank Nifty, HDFC Bank, Kotak Bank, Nifty PSU Bank, Reliance Inds, ITC.

Some interesting charts which are now closer to a major trend change and shift in momentum.

Some of these names could decide the next trend for the Bank Nifty and Nifty.

 

Bank Nifty – Back at that 36k zone.  Can it breakout and headup to 37700.

BN

 

HDFC Bank – Good recovery from supports. Covers the gap down. Now to conquer 1500-1550. Disclosure – Biased.

 

hdfc bank

 

Kotak Bank – Strong Recovery. Now can it break 1800 and sustain.

 

Kotak Bank

 

Nifty PSU Bank – SBI might be at an all time high but a lot of other names in a big consolidation. Got to keep on radar in coming months. Can be a big mover if it breaks out.

 

Nifty PSU Bank

 

Reliance Inds – Good bounce after retest of last breakout. The big volume down tick day on AGM and the highs at 2200-2250 remain a major resistance. Largest weight on the Nifty.

A range setting up for 2000-2020 and 2200-2240. Whenever this breaks a big trigger move of 10-20%

 

Reliance Inds

 

ITC Limited – Finally a higher top on shorter term time frames.  Disclosure – Biased.

 

ITC

 

 

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