Most of the PSU Banks has posted higher NPA’s in third quarter, which is signaling poor asset quality in Banks. Demonetization might have created a positive impact for banks as the money supply has gone up in the banking system
With the Union Budget 2017 just around the corner, Banking stocks are on a roll. The Bank Nifty, the barometer of banking stocks, has gained 11% since its December low of 17655.55 on 26th to settle at 19585.25 on January 30th 2017.
The IT sector is now approaching a key overhead resistance around 10100-125 levels and there is a possibility of minor weakness from the highs. It would be prudent to buy the IT sector/components on any dips from here down to 9850-9750 levels for the...
The Union Budget 2017 is estimated to have numerous distinctive features in comparison to earlier budgets. It shall also be interesting to witness how benchmark Nifty is going to react to the Union Budget 2017.