Bank Nifty Outlook: What will be the road ahead? Expert Vishvesh Chauhan reveals these aspects
Bank Nifty is at a very critical level of 33,300 and it is ready to give a big downside move from here, Market Expert Vishvesh Chauhan said. The current sideways consolidations can lead to a breakdown, he said. He said that the fall in Bank Nifty could be up to 30,000
Bank Nifty is at a very critical level of 33,300 and it is ready to give a big downside move from here, Market Expert Vishvesh Chauhan said. The current sideways consolidations can lead to a breakdown, he said.
He said that the fall in Bank Nifty could be up to 30,000.
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He recommended Put option in Bank Nifty at Rs 900 for levels of 33,000. He puts the stop loss at Rs 700 while the target prices at Rs 1200, Rs 1500 and Rs 1700 respectively.
The current date indicates a fall in Bank Nifty and not in Nifty, Chauhan tells Zee Business Managing Editor Anil SInghvi.
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He advised a slightly conservative trade and this trade could be bought by the investors. He also advised holding on to this position for some time. His view is for 3-5 months.
The Market Guru said that the premium is high because buy on Put of Bank Nifty is recommended for the April end.
Chauhan said that his estimates are that the levels of 33,300 will break and then the next support level is around 29,000-30,000. This is a big move, he said.
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