BANKNIFTY Weekly Analysis: 26th June 2022. Components looks weak
Hi Traders/Investors,
If you see two major big weightage components of BANK NIFTY i.e.
HDFCBANK
&
ICICIBANK
both have immediate resistance on UPSIDE. So, I feel these stocks can fall before moving upwards and hence BANKNIFTY might fall as well.
On other side, if it moves significantly on UPSIDE, then gap between 33774 to 34346 can be filled. But this seems too far fetched for now.
Also, OI data tells that there are more CALLs than PUTs in the system and RBI governor has given a statement on lines that FIIs have sold just half of what's going to come in next few days.
Please take positions at your own risks and these are not Buy/Sell recommendation but my personal view on markets.
Regards,
Anshul
If you see two major big weightage components of BANK NIFTY i.e.
HDFCBANK
&
ICICIBANK
both have immediate resistance on UPSIDE. So, I feel these stocks can fall before moving upwards and hence BANKNIFTY might fall as well. On other side, if it moves significantly on UPSIDE, then gap between 33774 to 34346 can be filled. But this seems too far fetched for now.
Also, OI data tells that there are more CALLs than PUTs in the system and RBI governor has given a statement on lines that FIIs have sold just half of what's going to come in next few days.
Please take positions at your own risks and these are not Buy/Sell recommendation but my personal view on markets.
Regards,
Anshul