Its time to go short on Banks…

Yes, brace up my friends, banks are loosing up momentum, after last wonderful rally.

Bank Nifty at CMP – 12301 is showing initial sign of fatigue.  Any aggressive trader can take short position in bank nifty keeping a strict stop loss of recent swing high or 12480.

Stock specific:-

ICICI Bank – 1113

Sell strictly below 1100 (take position not on spikes, be smart to initiate position)

Stop Loss – 1130,  with a target of 1050

SBIN – 2294

Sell below 2290 with a stop of 2330

Bpl-1 2225  Bpl-2 2150

(Above observations are for educational purpose only)

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