Broader trend for Bank Nifty remains positive
Going ahead, market will see an upmove after the outcome of the election results if it is in favour of the existing government. Traders should start picking stocks from a timeframe perspective of 2-3 months.
There are many midcaps which are into oversold zones and which are likely to show decent bounce back in the near term. Broader trend for Bank Nifty remains positive. Volatility will be there on the higher side but positional traders or investors should use this decline to buy quality stocks.Expect Nifty to test 12,000 very soon whereas on the lower side 11600-11450 is likely to act as a very decent support, says Ruchit Jain, Technical Analyst at Angel Broking.The Great Diwali Discount!
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