Bank Nifty could see a break above 13350 in a couple of days: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, Mitesh Thacker, Technical Analyst, miteshthacker.com, shares his views on Bank Nifty.

ET Now: How would you approach trading Bank Nifty?

Mitesh Thacker: The key would be a breakout above 13350. We are trading long on individual banking stocks particularly some PSU banks and private sector banks like KTK Bank or Kotak Bank, so the signals are pretty strong. Possibly in the next one or two days or possibly three days we will see a break above 13350. Once we start closing above that level that would be crucial and suggest about 14500 to about 15000 as the first or primary target in the Bank Nifty.
We should hold long on Bank Nifty and if we are trying to short the market then choose Nifty as the instrument so it could be also be a pair trade between Bank Nifty and the Nifty.