Monthly Analysis In this monthly series banknifty has moved up 2958pts ~ 7.40%. By any standards that is really superb. It has taken out 7 crucial resistances in the process and is now exactly at the 8th resistance point. This outperformance is cementing India’s growth story to the global financial markets. Everywhere else the news…
I am sure most of the traders would be surprised with the kind of bullish price action we saw after 10am. Since SPX closed -1.58%, NDQ -1.89% yesterday — most of them including me expected Nifty50 and banknifty to close in deep red today. The gap down opening at 42559 was perfectly at the support level and…
For traders who are playing banknifty expiries on Thursdays can play the same trades on FinNifty on Tuesdays. The margin requirements are lower and now since the option premiums are staying low — the ROI in finnifty is better than banknifty. Today was a flat day, open was at 42731 and then it was struggling to keep…
By 09.15 around 90% of traders would have guessed how banknifty is going to trade today. Thats because ICICI bank had an excellent quarterly results to boast for. The predictability of banknifty is, one leading bank is enough to pull up the sentiment of others. Same on the downside as well. Opening was gap up…
Just a bit of negative bias today — nothing major to be worried about! Banknifty still has outperformed Nifty50 this week. And trust me the chart of banknifty is looking strong. Today we opened inline at 42252 had 2 strong green candles and then started falling. From 09.30 to 13.05 we fell 0.99% ~ 419pts — but the options…
Weekly Analysis Banknifty has gained 0.29% ~ 123pts from the last Thursday to today. Except for the 1st hourly strong candle on 17th, the rest of the trading was range bound with a slight positive bias. The range banknifty traded in (max swings) indicated below. It just had a maximum swing of 1.28% and this…
Banknifty had a narrow range based trade today with a minor negative bias. Yesterday’s swing low was breached by 13.40, but it does not pose a major scare yet! The pattern may look bearish on the 5mts TF, but it actually isnt. Banknifty is comparatively outperforming the Nifty50 and NiftyIT index for the last 3…
One thing I noticed this week is the variance in volatility of Nifty50 vs BankNifty. On 99 out of 100 trading days — Banknifty used to have a higher volatility than Nifty & you know what higher volatility brings to the options trading. Yes — option premium anomaly. Probably this variance was there earlier too, since I trade on…
Banknifty really held its cool today! During preopen INFY was showing an open rate of -10%, and everybody would have thought we are going to see a massive sell off today. IT sector in total was in focus today as the INFY even though had not so bad results was quoting at 10% lower circuit….
We will start with the weekly analysis first, that is what happened in the series 7th to 13th April. The revised format is to provide an executive summary per week. This will benefit you for further research. Since 7th April was holiday, I have taken the closing price of 6th April as starting point. We…
