Bank Nifty situation is little critical, take a look
Updated
Hello Guys,
1) With multiple issues popping on like DHFL 2) no much actions taken after IL & FS 3) more conversions from Debt to Equity like SBI's JetAirways deal 4) Farmers loan waivers
Considering these points, PSU's Banks situation is not good so it will look correction.
Plotted a H& S targeting to H&S neckline, we can review after the Neckline break.
Trade on break of trendline :) Good luck with your trades.
1) With multiple issues popping on like DHFL 2) no much actions taken after IL & FS 3) more conversions from Debt to Equity like SBI's JetAirways deal 4) Farmers loan waivers
Considering these points, PSU's Banks situation is not good so it will look correction.
Plotted a H& S targeting to H&S neckline, we can review after the Neckline break.
Trade on break of trendline :) Good luck with your trades.
Trade active
Trendline break. Trade Active.Note
Now the fear will play the picture here. Country was boiling on the Pulwama attack which killed 40 soldiers.
The retaliation attack by IAF happened today (on 26-Feb), attack was performed deep inside the Pakistan territory shows a pressure relief for the government, adds golden feather to the cap. This was not done in last 18 years atleast.
So If Pakistan attacks back, it is a fear, so we can reach our target soon. If not we will hit SL. :)
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