Nifty & Bank Nifty Oversold in daily chart & shows weakness in Weekly chart.
This indicates that Nifty can rally to 9600 before fresh short is built. Nifty should take support near 9400 for medium term. We continue to be bullish on NIFTY with a target of 10250 in 3 months.
Nifty has good strong support at 9200. Weakness to persist as short term GST impact is taken less seriously. GST to help the economy in the long run. GST also to help Organized sectors to do well and adapt easily.
I am Vinoth Kanna, Admin, Gale.in. I am into investing and trading for last 7 years. I love sharing my knowledge and to educate people. I write articles regarding stock market to enlighten people about stock market and also share stock ideas at Gale.in to ensure retail investors of decent profits. You can contact me at firstname.lastname@example.org for stock queries. Have a wonderful time at Gale.in.