Bank Nifty--GST Magic or Impulsive Wave Magic (Thumsup)

5 ago 2016

GST--is one of the biggest reforms in this decade which India has witnessed as per Industry Veterans.

GST- will it be a thumbs Up for comman man( with so many "comman" in GST--comman challans...comman accounting codes,etc) -where he will get rid of various taxes as compared to GST(Goods & Services Tax) as the only tax--I don't know -time only will let us know as time is the biggest teacher.

In previous update--"Bank Nifty--2 Zones before falling resumes back" I highlighted that I am looking for bounce in BN from the zone 18500-18525 to zones 18700--18730 & 18825--18875...Bang On....

Yesterday, BN was flirting around 18450--18550 zone at lower end..& unfortunately for intraday traders its a missed chance...as market opened gapup today--well no worries- Markets are going stay here forever. Now look out this zone as resistance --any bearish confirmation at your end -can be taken as short else BN closing above 18900- will go even further upside...

Regards,
Abhishek H.Singh, CMT