Nifty has closed with a positive bias on a weekly basis after two weeks of volatile moves. Nifty has formed support at 11196 and we expect the ongoing momentum to continue till 11491/512/542. For all longs 11196 should be the stop loss.
Bank Nifty is still looking weak. The major components of BN does not seem to make any big move in the next week leaving the nifty move also a big question mark.
The results of HDFC Bank and Axis bank should give direction to Bank Nifty. Kotak Bank results on 15th may bring cheers if it is able to hold to 264 level.
Monday intra day levels have been posted. Good Luck to every one and have a happy week end!
No comments:
Post a Comment
Note: only a member of this blog may post a comment.