Bank Stumbles

Banking stocks have come under some selling pressure on concerns of exposure to micro-finance institutions (MFIs). You can measure the fear on the charts. See the Bank nifty .

Well, if you ask where is the bottom, I will say that we still havnt seen the begining of downfall of this mighty index. See, it has merely touched the middle moving average line. Though bearish crossover occured in MACD but it is held on way up above zero line and the difference between the two lines of stoch seems shying to widen. So, I will confirm the reversal when the first moving crossover occur. Wait for few more days. You wont be disappointed.