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HDFC Bank, ICICI Bank: Bank stocks look weak on technical charts. Stay away

NIFTY BANK: The index is losing upward momentum gradually and this may result in a sell-off if a reversal does not happen immediately. Going forward, the index faces resistance at 18,000 levels on a closing basis. A close below 17,000 may attract build-up of short positions. The current momentum indicates weakness as both the technical indicators - the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) - are trading in a negative crossover. CLICK HERE FOR THE CHART State Bank of India (SBIN): The counter has broken the symmetrical triangle suggesting a bi.....

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