Business Standard

Nifty Bank hits 200-DMA. How to trade bank stocks in the next few sessions

Expect PNB, Bandhan Bank and other banks to trade with a negative bias below 200-DMA

Web Exclusive Premium


Avdhut Bagkar Mumbai
The Nifty Bank has corrected over 10 per cent so far this month and this furious downside has created a fear, which distorts the confidence of traders and investors.

On Monday November 29, the Nifty Bank breached its 200-day moving average (DMA) placed at 35,700 hitting an intra-day low of 35,327. Market participants regard this average as the crucial denominator and firmly believe in its significance. Any stock trading below the 200-DMA is viewed as a negative stock with inclination of further downside. 

So, as long as the Nifty Bank defends the support of 200-DMA, the positive bias

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Nov 29 2021 | 11:38 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to