Market Holiday Today: BSE, NSE to remain closed on account of Maharashtra Day.
BANKNIFTY is less than 1000pts away from its all time high in spite of all the news like ADANI Group, Silicon Valley Bank.
Closed at 43233.90 as on 28 April 2023, and 👇
Till date recorded All Time High for BANKNIFTY is 44151.80
Table – One
|Top constituents by weightage AS on 28 April 2023|
|Company’s Name||NSE CODE||Weight (%)|
|HDFC Bank Ltd.||HDFCBANK||27.41|
|ICICI Bank Ltd.||ICICIBANK||23.61|
|Kotak Mahindra Bank Ltd.||KOTAKBANK||10.5|
|State Bank of India||SBIN||10.47|
|Axis Bank Ltd.||AXISBANK||9.53|
|IndusInd Bank Ltd.||INDUSINDBK||6.25|
|Bank of Baroda||BANKBARODA||2.91|
|AU Small Finance Bank Ltd.||AUBANK||2.65|
|Federal Bank Ltd.||FEDERALBNK||2.38|
|IDFC First Bank Ltd.||IDFCFIRSTB||1.59|
Table – Two
|SYMBOL||52wk HIGH||52wk High Date||52wk LOW||52wk Low Date|
- WHEN 90% plus combined weightage of BANKNIFTY Stocks made new 52 week Low means Market is almost or near BOTTOM.
- And, we should become defensive (create hedge) when 50% plus combined weightage of BANKNIFTY Stocks makes new 52 week HIGH means Market is almost or near TOP.
- Same is valid for all other Sectoral Indices – We are not sure… 🙂🙏🏽
- However, This is all True in case of BANKNIFTY especially when NIFTY50 is in Clear “BUY” Mode. Likewise, when Short Sell is not Triggered – correction is Possible which means BUY at every 4% Fall – without STOP-LOSS.
Now People are BUYING Banks…🤔
Getting started is the hardest part
The most successful Research Analysts don’t care – who’s watching or following.
They just keep on doing their bit to capture Market Opportunities…
Call, Text: +91 99003 30558
Nilesh Jain, Trading Counselor
SEBI RA: INH200002978, Bengaluru
E-Mail ID: Rocket@RocketTrades.com
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