Moneycontrol
Jan 11, 2017 08:31 AM IST | Source: Moneycontrol.com

Bulls in control

The rally in the Bank Nifty was not surprising at all because the Bank Nifty has been the stronger of the indices and even now I would say that if you want to trade the index, you have to trade the Bank Nifty.

The market surprised a lot of people yesterday and had a late rally. The rally in the Bank Nifty was not surprising at all because the Bank Nifty has been the stronger of the indices and even now I would say that if you want to trade the index, you have to trade the Bank Nifty because the issue with the Nifty is that it is finding resistance at 200-day moving average and we closed right there with the premium collapsing. So while the SGX is indicating a bit of a gap up, it could still be a bit of a trap.

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