See we told you and gave a 5 pointer on 14th July to why you should book some profits. Still advising you to avoid leverage and book some profits as risk-reward ratio is less around 5400 zone.

Nifty View:

If Nifty Spot breaks trendline support on closing basis then as the arrow points we may be headed to multiple bottoms zone. Nifty spot sustaining/closing below 5300-5320 can lead Nifty to multiple bottoms support around 5225-5250. A small bounce from trendline support zone of 5300-5320 is also not ruled out.  

Stock View: Banco India

The stock broke out from triangle pattern with huge vols but couldnot cross the trendline resistance zone. There is also a good trendline support zone which can be used a parameter for stoploss for all long positions. Buy Banco India on dips to 117-119 with a stoploss of 113 on closing basis and look for targets of 130/140 in 2 weeks. Momentum players can catch it above 123-124 with stop of 117 but i still prefer buying on dips to 117-119.

Have a nice trading day

Regards

Ankit