Nifty 12-month forward PE is around 23 per cent below peak. Indian equities should find support from robust earnings outlook owing to strength in the domestic economy.
Presently, the BSE Sensex and Nifty 50 have breached their respecitve 21-SMAs, the following support levels need to be honoured in order to sustain a positive bias.
Bank Nifty index has been outperforming the benchmark Nifty. It has gained 4% in the past one month and 16% YTD. In comparison, Nifty is up less than 2% both on a one-month and YTD basis
Here are trading strategies for key private and public sector bank stocks
Bank Nifty's short-term trend has turned positive as it closed above its 5- and 20-day EMA
The next support for the Nifty Bank index is at 30,000. Any breach of the same may result in a bearish trend towards 28,000-mark
Stocks like SBI and Bank of Baroda can expect a surge of over 5 per cent in coming sessions.
The shares of Hindustan Aeronautics, Bharat Electronics, Bharat Dynamics, Mazagon Dock, and Mishra Dhatu Nigam rose 15-30 per cent last year.
Over the past few sessions, the markets have been consolidating in a range. Here are the key levels you need to track for key indices
Several out-of-the-money call options on the Nifty and the Bank Nifty index jumped more than 50 times on Friday
Bank Nifty has given breakout on the daily charts by closing above the 200-day simple moving average to close at two month high