time to short banknifty till market price range. 200ma will conform our shorting trade. it previouslu took good support here too, but overall momentum is bearish.
Sources tell us that the govt is likely to propose United India Insurance for privatisation. Cabinet nod will be sought after other approvals in place. Further, insurance cos are likely to be privatised before bks. Govt so far has infused approx Rs 12,500 cr in non-life insurances.
