4 stocks Jay Thakkar is bullish on from banking sector

economictimes.indiatimes.com:

«I do not think that we would see a close below 44,500. In fact, 45,000 on an immediate basis is also good support and we see on an intraday basis Bank Nifty took support at 45,000 and has bounced back again,» says Jay Thakkar, Sharekhan.How are you witnessing the day's action so far? The chatter is getting louder, are we nearing a near-term top for the market? Do the charts indicate the same? Both Nifty and Bank Nifty actually came down pretty nicely in the first half of the session so far. I would say overall markets did see some profit booking up from the higher levels and that is fine. I would say that is healthy as well.

There are a couple of profit bookings on the way up. On the downside, I think that on the immediate basis for this weekly expiry at least I would say that 44,500 to 45,000 range, that is going to be very important and crucial. I do not think that we would see a close below 44,500.

In fact, 45,000 on an immediate basis is also good support and we see on an intraday basis Bank Nifty took support at 45,000 and has bounced back again. On the higher side, 45,500 is the immediate target, that is 150-160 points from here on and above those it is heading towards 45,800, 46,000 maybe as well. So, overall, the outlook is positive and continue to remain so.

The overall momentum is absolutely strong. It is bullish more in Bank Nifty I would say than that of Nifty because Bank Nifty has completed its downward cycle. So, overall outlook for the Bank Nifty is absolutely bullish I would say in the short term and target would be 45,500 to 46,000.