Wednesday, 27 September 2017

Nifty Bank plummets amid strong bearish sentiments

Bank Nifty index plummeted during the second half of Wednesday’s intraday trade as market extended its losses.
 Immediate support for Bank Nifty may be at 23,700 levels. The index’s 30 day percentage change stood at -2.46%. The index slipped lower by over 421 points or 1.74% at 23,778 level, majorly dragged by HDFC Bank and Bank of Baroda.

The index witnessed an intraday high of 24,331 level and an intraday low of 23,775 level. It is one of the major index losers among NSE having 0 advances and 12 declines on the index.
Other stocks in the index viz. IndusInd Bank tank lower 1.25% at Rs 1,672.30 per share, Kotak Mahindra Bank tanked lower 1.31% at Rs 981 per share, Axis Bank tanked lower 1.42% at Rs 504.70 per share and Federal Bank tanked lower 1.60% at Rs 110.55 per share.

BUY NIFTY 9950 PUT ABOVE 135 TG 145, 155, 170 SL 115,

OPTION: BUY BANK NIFTY 28TH SEP 24300 PUT ABOVE 310 TG 330, 360 SL 270,

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