BANK NIFTY WEEKLY ANALYSIS

BANK NIFTY AUG (7-11) PLANNING.

RBI rate cut does not moved bank nifty, since it is already priced in, the week closed with 16 points gain only. For the coming week, Bank nifty resistance placed around 25200 and support standing around 24650.

Last week PSU banks not performed well, but they managed to close some what okay level,  I mentioned last week it is do or die week for PSU banks, they fairly managed,  This week I am positive on large PSU banks esp. SBI and BOB.  Friday, 11th Aug Result for SBI and BOB. AxisBank  may surprise this week by moving up.  Icici bank looks soft.

Kotak bank corrected last week, this week it will bounce back, Yesbank will move up this week,  Indusind and HDFC banks looks good, there is no visible of correction.

If we look at past trading style, Index is comfortable to move from -0.5 to + 0.8 or from + 0.5 to - 0.50 rather than moving 1% up or down. 

Buy on dips is the Plan,  Calls can be taken on daily basis rather than positional. 

Hope for the best.

Yours,

Zen Trader.