Analysts positive on Bank Nifty, advise picking up stocks on dips

Bank Nifty index has been outperforming the benchmark Nifty. It has gained 4% in the past one month and 16% YTD. In comparison, Nifty is up less than 2% both on a one-month and YTD basis

The Bank Nifty index has been outperforming the benchmark Nifty. It has gained 4 per cent in the past one month and 16 per cent year-to-date (YTD). In comparison, the Nifty is up less than 2 per cent both on a one-month and YTD basis. Technical analysts say investors use the weakness in the banking stocks as a buying opportunity. “The index remains in a buy-on-dip mode with strong support at the 40,500-40,000 zone where aggressive put writing has been witnessed. The index once breaches above 41,500 will witness an extension of the up move towards 42,000 where the highest