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Street signs: Outlook for Bank Nifty, Jubilant Life shares, and more

Despite shedding more than nine per cent in the January series, the outlook for Bank Nifty remains bleak

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Ashley CoutinhoPavan Burugula
Banking stocks to be under pressure

Despite shedding more than nine per cent in the January series, the outlook for Bank Nifty remains bleak. Downside support for the index has moved to 24,750 with the upside capped at 25,500. There has been a significant build-up of long positions in private sector banks, which are expected to do well, even as public sector banks' woes would continue. With the exception of State Bank of India which has seen some stability, other counters have seen a build-up of short positions, said analysts. In the past five trading sessions, shares of Punjab National

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First Published: Feb 26 2018 | 5:55 AM IST

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