Trading ideas: A move above 34,800 might bring the financials again into the trader’s radar
Traders are advised to stay extremely selective while picking long bets and remain vigilant in case of any ambiguity
With regards to the Nifty Bank index, 34,500 would be intermediate support and a breach of the same could result in further underperformance
The level of 15,800 would be a crucial resistance for Nifty
We feel the next support is at 13,500 and a breach of the same might force the index towards 13,131 in case of any negative surprises from the Budget 2021.