We looked the the underperformance of Nifty Bank with Nifty IT ( checking with IT as that has been the leader in the current rally.)
https://twitter.com/nooreshtech/status/1430063879946530819/photo/1
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 -
Smallcase Launch–Top 10 Insider Trading, Top 10 Techno Funda, Top 10 Value & Thematic Smallcases.
RBL Bank- Covered last week and a good bounce
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
Smallcap Index–What is a Shakeout , Correction & Crash. What is the Setup Now–Sunday Thoughts ?
2) Smallcase Launch -
Smallcase Launch–Top 10 Insider Trading, Top 10 Techno Funda, Top 10 Value & Thematic Smallcases.
3) Online Technical Analysis Video Course – A good time to now do it.
Good time to subscribe to our services ( always better to start post a drawdown.)
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