Bank Nifty has broken out on the daily chart to close at all time high level.
On the daily chart, Nifty formed a bearish candle and continues to maintain a sequence of lower highs and lower lows for the fourth straight session indicating sustained pressure
Chandan Taparia of Motilal Oswal says BPCL share price has broken out of a falling supply trendline on the daily chart with high volumes, supporting positive outlook.
Sebi's weight-watching exercise caps HDFC and ICICI at 20%; smaller lenders get a larger slice
As per the new rules, the index must include a minimum of 14 constituents, compared with the current 12, while the weight of the top constituent will be capped at 20% - down from 33% presently.
Profit booking is seen in the Bank Nifty Futures where Open interest fell by 1 per cent along with a fall of 0.61 per cent
The NSE Nifty 50 index can potentially rally to new life-time highs around 28,300 levels in Samvat 2082, while the BSE Sensex can surge to 92,000 levels, suggest technical charts; details here.
Till Nifty holds below 24,850 zones weakness could be seen towards 24,650 then 24,500 zones while hurdles can be seen at 24,850 then 25,000 zones.
In May, Sebi had issued rules capping the weight of the top constituent in such indices at 20 per cent and the combined weight of the top three at 45 per cent
Long build up is seen in the Bank Nifty Futures where Open interest has risen by 2 per cent along with price rise of 0.10 per cent
Polycab and Jio Financial Services are among the top stocks to buy today, says Chandan Taparia
F&O strategy: Primary trend of the Bank Nifty remains positive as it is placed above its 50 and 100 day EMA
NTPC, SRF, Hindustan Petroleum are among the top stocks to buy today, says Chandan Taparia
Derivative strategy: How trade Bank Nifty and PFC today? Nandish Shah of HDFC Securities explains
the Bank Nifty index advanced 0.80 per cent from its previous close to scale a fresh peak of 57,076 during intraday deals on Thursday
Nifty Expiry Day: A breakout above the 25,300 level could result in swift short-covering and potentially drive the Nifty towards the 25,450 - 25,500 zone, said Dhupesh Dhameja of SAMCO Securities.
Stocks to buy today: Motilal Oswal's Chandan Taparia decodes how to trade Nifty, Bank Nifty; recommends three stocks to buy today
Technical chart shows that the Nifty Bank has near resistance at 57,000 levels; above which the index can potentially rally past the 60,000-mark. Here are 5 banking stocks that can potentially rally.
The short term trend of the Bank Nifty is positive as it is placed above its 5,11 and 20 day EMA
The short-term trend of the Bank Nifty index is positive as it is placed above its 5,11, and 20-day EMA