Banknifty held out to a perfect trend continuation from yesterday. If we notice closely the pull backs were not strong enough to break the momentum. I sincerely thought we will have a reversal or a bearish day today and had taken PE debit spreads to capitalize. If we analyze today’s pattern closely bank nifty took…
Banknifty had a mega pre-open boost by Kotak Bank, it was up 5% by 09.10 which indicated the bears will get their bones crushed today. Contrary to the popular belief, Kotak bank has the 3rd most weightage to bank nifty above SBIN and AXIS even though kotak has lower net interest income. And today’s 5%…
I am making some changes in the chart layout from today’s report. It will be in white background going forward. This is after the feedback I got from the kindle publishing team that images with dark layout will look awkward when made into paperback. note: I will still continue to use the dark-mode chart for…
Yesterday we discussed in detail the RBI MPC possibilities. If you read the article — I was expecting a hike. Surprisingly RBI maintained status quo today. Even when the inflation is at the elevated level a pause in rate hike should not be taken very lightly. An optimist would say it is an excellent decision that RBI…
Before we get into today’s analysis let us spend some time on Inflation, MPC minutes by RBI & health of banking sector. You might be aware we have the MPC minutes & interest rate decision tomorrow. There are 3 possible outcomes status quo dovish hawkish What really prompts RBI to rate hike are 2 things…
We had a perfect trend continuation day today, see the purple line — the trades were in the same degree of slope as on the previous working day. Banknifty opened at 40695 today and then slowly started climbing. We were in a small range of 40550 to 40690 between open and 12.05 — this was mainly because of the…
So the fiscal year comes to a close today, but today is the start of April series for banknifty. The first weekly expiry falls on 06 April& the monthly expiry is on 27 April. Hoping that you all had a good financial year 2022–23 and your trading dreams came true. For me — I could say with…
Quite an eventful day today spoiled by the last 30mts surprise. Honestly how many traders were expecting a rally of 340pts between 15.00 to 15.30 — i was not. In fact i was expecting a fall towards the 39400 levels. Lets analyze the trades on the 5mts chart today. Open was inline at 39611 and we tested…
March series is coming to a close tomorrow, but the options premium is already dead. Only few strikes near the money has some more premiums to shed, all the other OTMs are well below the average rates to what we usually see on the penultimate day of expiry. It also translates into very little movement…
There are few important aspects to the price action today. We stuck to a small range today — it would have been good for intraday straddlers & short iron-fly, iron-condor strategy deployers. So we opened inline at 39484, many would argue that it was a gap up. But i wouldnt say that because of the price action…
