Currently, Bank Nifty is facing resistance at the 100 DMA at 44444 and experiencing strong selling from there. With MSCI rebalancing today, the last hour could be highly volatile says trader.
A good trade is about recognising where there is a good opportunity. Even though most traders are uncertain about the short term, they said the current crash could be used as an opportunity to add long-term positions
Analysts and traders are maintaining a cautious stance on an intraday basis. ICICI General Insurance, Marico, LTIMindtree, RBL Bank and Infosys in bear grip