Banking
BANKNIFTY SHORTThis is a revision of my prv BANKNIFTY chart "https://www.tradingview.com/chart/BANKNIFTY/Qr1NFlnT-Bank-Nifty-Oversold/". I explicitly stated "Oversold" as I viewed the retrace that I had called till 16k as just a retrace and not any strong sign of resurgence in the banking sector. The channel has proved to be strong. 1st Tp 13.2k 2nd Tp 12.3k.
Kotak Bank - A BIG SHORTIt is moving within the trend line for a while and now it has touched the resistance trend line, which indicates a reversal.
Situation two key points,
1. Overbought AO ( reversal indicator)
2. Bearish Cypher pattern completion at trend line
Indian Bank at Long Term Investment ValuationThe retracement has been done below its intrinsic valuation due to weakness in overall bank sector. I believe this stock is a fast grower and at this valuation it is great buy.
