Banking is a sector which gives first indication for down trend or reversal and thus it makes sense to track the banking Nifty.
As a simple guideline; it appears that this sector is close to forming of the bottom and thus follow the following guidelines:
- One should avoid going short blindly in this sector.
- One can trade in banking sector by buying in downtrend and exiting all longs if it breaks 10899 level.
- Good quality stocks like Yes bank and HDFC bank be added at every downtrend in this sector as these are best among all the stocks.
Do remember to check our Jackpot tip to make money in stock market every day. This post was published first on 10 Apr 13 at Indian-Share-Tips.Com