Another surprise today with 300pts ~ 0.69% move from 13.30 to 14.40, came at a time when no one really expected. Karnataka election results tomorrow and most traders would have anticipated we close the day subdued. The lower than expected CPI data of 4.7% would have leaked with few big-boys and they would have ended…
Weekly Expiry Analysis From the 4th of May till 11th, banknifty has fallen 0.3% ~ 131pts. Headline does not really indicate what went behind. We fell 1028pts in 1 single day i.e. 5th and then scaled back 870pts in the remaining 4 days. How can I not credit the bulls? You might be bored with…
Few things went as planned (till 10AM) and after that I was like the deer stuck in the headlights. No way I could believe the rally of 560pts ~ 1.31% from 10.05 to 15.20. I was having the short-sell bias ever since the bad news broke about MSCI on HDFC-HDFCBk. So I was kind of…
The real move came a little late today, from 12.45 to close wherein banknifty gave up 403pts ~ 0.93%. I was expecting the fall to come in the morning session — but the finnifty expiry trades would have limited this damage to a great extent. For some reason Axis Bank and IndusInd bank was quite strong today…
I am still keeping my hopes pinned on the Fibonacci levels marked as in the chart below. 43739 recent swing high, 42581 last session swing low and 43296 the 61.8% retracement level. It really looked like a short-selling setup as the bull momentum faded out after 11.15 — we went up 1.46% ~ 622 points today but…
Finally some volatility to keep the bears alive. This entire week the technical analysis was saying keep buying. See how a fundamental change can alter the sentiment. The MSCI news hit just before the start of the day and HDFCBK and HDFC were down 5% in pre-open. The biggest loser was Finnifty index compared to…
Weekly Analysis Banknifty has gone up by 1.58% ~ 678pts from last Thursday to today. It has taken out 2 crucial resistance points in the process and nearing the ATH now. Really impressive performance — the banks in India are standing out with their outperformance. Global financial institutions are melting down and many US banks are trading…
Just look at the 5mts chart of banknifty today — what do you see? I see the strength of the bulls. Even though the opening was gap-down and below the support line 43253, banknifty managed to scale back by 10.45. The first attempt was rejected — rightly so because Nifty50 was looking weak and the market participants would have…
Signs of tiredness visible in the price action today. To start with, never expected that our indices will close in green today, even though the momentum is slowing, it is pushing up the bulls inch by inch. Nifty50 was having more positive price action vs banknifty today — that may be because there are 2 more resistance…
I almost believed in everything that happened today, but not after 15.00. The spike seen on the 15.00 5mts candle reminded me of some cryptos that trade out there. Even Nifty50 had that unusual surge. I was monitoring all 8 nifty50 stocks — and could not believe a bit of it. It may been due to the…
