Short covering expected in Banknifty, but it is not bullish yet.

Time: 9:15 am Banknifty ·                     Banknifty came to RSI 30. ·                     It is heavily oversold level. ·                     It will be fortune if Banknifty goes up until we receive some good news from RBI. ·                     ICICI and HDFC bank up in US. ·                     Banknifty will be marginal higher, but no hope for

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Nifty RSI is not shooting up and the chance of forming hidden bearish divergence is very low

Time: 5:30 am Banknifty ·                     There was a new jerk reaction to CRR. ·                     Technically PSU banking stocks are looking weak as of now. ·                     But they did not fall much as RSI is not coming down. ·                     RSI of Banknifty has not touched 30 recently. ·                     No chance of immediate

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CRR increase rate may hurt Banknifty, but HDFC bank can change the trend.

Time: 4:30 am Banknifty ·                     Increase in CRR rate will hurt Banknifty more, especially PSU banks. ·                     However PSU banks are having surplus money, it should not be big negative news. ·                     Short Covering in HDFC bank helped to lift Banknifty a bit, but there is no fresh long position in

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