2 top stock recommendations from Jay Thakkar
«What does that mean is that market has definitely taken a pause after four days of sharp sell-off and it can bounce back. It can bounce back till 19800, till 45000 to 45200 on Bank Nifty and 19800 on Nifty,» says Jay Thakkar, Sharekhan.
What is happening on Nifty, Bank Nifty?The overall trend has definitely reversed from up to down as far as the Nifty or maybe the Bank Nifty and the Nifty financial services is concerned. I mean, the recent four days of fall, which we had seen, I mean, all of these indices have completely changed the trend.
And with that, yesterday, we again saw almost a flat close on Nifty. I mean, that was a doji formation. And Nifty Bank and Fin Nifty, in fact, closed in positive territory.
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What does that mean is that market has definitely taken a pause after four days of sharp sell-off and it can bounce back. It can bounce back till 19800, till 45000 to 45200 on Bank Nifty and 19800 on Nifty.
These are the levels which I am eyeing for in the short term just for a bounce.
But if you ask me the overall trend, I would say it would be negative. So once this bounce gets over, I think again the downtrend should resume. So a good technical bounce back can be expected, post which we will again see a downtrend continuing.
You are expecting a short-term rebound, but not the final bottom is made. You expect the revisit of lows also happening. What are your trading ideas in this kind of a market?
Now since there can be some bounce back, so there are a couple of
