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Last Updated : Nov 29, 2016 08:19 AM IST | Source: Moneycontrol.com

Bank Nifty key to watch

You may want to see if the Nifty is halting at the 200 DMA again and if you are an adventurous trader, maybe taking an adventurous short on Bank Nifty may not hurt you too much because the Bank Nifty is showing signs of underperformance yet again


Yesterday I had said that if the market gives you gap down, that would be great opportunity to buy intraday because the risk reward still favoured you to take a long position. But as expected, the Nifty saw a halt at the 200-day moving average (DMA) of 8,150. So the sense I get is that today it might not be the most favourable call to take a buy call.

You may want to see if the Nifty is halting at the 200 DMA again and if you are an adventurous trader, maybe taking an adventurous short on Bank Nifty may not hurt you too much because the Bank Nifty is showing signs of underperformance yet again.

Watch video for more...





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First Published on Nov 29, 2016 08:12 am
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