Fatty Brother (Index Heavy Weight) HDFC Bank is awake now and ready to help Banknifty

Time: 5:45 am Banknifty ·                     There are some good things happening to Banknifty. ·                     There was huge delivery volume (75%) in HDFC bank. ·                     It also broke last week high. ·                     HDFC Bank is index heavy weight in Banknifty and it can dominate the index with remaining 11 stocks ·                    

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There is not much delivery volume. Play with selling PE than going long.

There is not much delivery volume. Play with selling PE than going long.

Time: 5:40 am Banknifty ·                     FII keeps selling private sector bank. ·                     However HDFC bank stands good among this bearishness. ·                     Midcap banking stocks are highly volatile now. ·                     Some of them are in short side and remaining of them is in long side. ·                     Both ICICI and HDFC bank

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Bullish Divergence in Nifty Day Chart, but still below zero line.

Bullish Divergence in Nifty Day Chart, but still below zero line.

Time: 3:55 am Banknifty ·                     It has formed bullish divergence. ·                     MACD signal is still below Zero line. ·                     It is below 200 DMA (18100). ·                     Volume is getting picked up right now. ·                     Long positions have been maintained in all index heavy weight stocks. ·                     PNB has formed bullish

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MACD Negative Crossover happened in both Nifty and Banknifty, but below zero line.

Time: 9:10 am Banknifty ·                     MACD negative cross-over has happened in Banknifty. It is a sell signal in general. ·                     However it happened below zero line. It means that it is not ultra-bearish. ·                     We are getting more premiums in PE. ·                     Best time to short Banknifty with limited quantity

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Diminishing volume goes in favor of short sellers.

Time: 9:25 am Banknifty ·                     Market has provided good bandwidth to invest in banking stocks. ·                     Never worry about demonetization and still keep investing. ·                     HDFC bank and ICICI bank are almost flat in USA. ·                     Technically ICICI bank is ready to bounce bank. ·                     Axis bank is trying to

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