Banking Stocks Trading Near Major Resistance

Banking Sector is Trading Near Major Resistance. If the sector

Reverses then it is good to short Banking Stocks Like ICICI

SBI, PNB, AXS for your valuable reurns. And if Any of the

Stock fall and close below 21 DAY moving Average dont forget

to short immediately

 

ICICI BANK - Rs 636 - Bearish  Engulfing Pattern  - Already Bearish Signal in the chart

21 DAY EMA - Rs 644.7

Stop Loss - 655

 

SBI BANK - Rs 1387 - Bearish  Engulfing Pattern - Short Only Below 1326 - Catious

21 DAY EMA - Rs 1326

Stop : 2% above the 21 DAY EMA

 

PNB Bank : Rs 464 - Bearish  Engulfing Pattern - Short Only Below 445 - Cautious

21 DAY EMA - RS 445

Stop : 2% above the 21 DAY EMA

 

AXIS BANK - Rs 679 -Bearish  Engulfing Pattern  - Already Bearish Signal in the chart

21 DAY EMA - RS 679.3

 

 

ICICI & Axis Bank Looks Like a Good for Shorting if Market reverses

SBI & PNB Bank may revese if nifty is turning upside. Nifty Resistance is currently at

4350

 

Happy Trading