Bank Tumbles

I may be out tomorrow. Nifty is having a strong support at 5800 and its likely that it gonna hover between 5800 and 6000 for couple of days. We saw panic due to korean aggression followed by news of LIC housing finance. Banks which has been strong in last couple of months now surrendered to the panic wave.

On Thursday morning we can expect a futher fall. I would suggest to go short in Allahabad bank as soon as the market opens.

You may go short in Allahabad bank @ 250-246 level and can expect 240-235. Have a great time bear.

CEE YA