Posted By : Kishore B.S
Expect the market open on a flat note after two days of steep fall. US markets yesterday closed on positive note. The RBI came up with a statement that NPA in banks is deepening. Any guidelines on recovery could have a short term impact on PSU banks.
The technicals show bank nifty trading near a 50day moving average, which is the last hope to go long. Nifty looking week because the fall in nifty from the past two days has created negative sentiments, hence it is wise to stay out of the market and wait and watch as to where nifty is heading.