Promising price action today if you are bearish. The double top M pattern on the hourly time frame did its job quite nicely today. (Thank god it worked) But seriously what happened today is no reflection to the handout from US markets. SPX was down 1.85% over night & our Nifty50 is only 1% down….
Interesting moves by bank nifty today, the closing statement from my yesterday’s report said. I personally would like to wait for the range to be broken decisively before changing my bearish bias. Got lucky with the analysis yesterday as banknifty was consistently proving me wrong in this calendar month so far. But i am sure…
Simply unexplainable moves by bank nifty from 13.50 today. From the traders fraternity i saw few group of traders planning for long trades — they got immensely rewarded. For some reason i was keeping by bearish bias & hence ended the day quite unsatisfactorily. Overnight we had a dip in SPX -1.53%, DJI -1.72%, NDQ -1.22% — seriously i…
Once again the perfect day for the straddlers, open & close almost at the same level ! But for every other trader, it was a tough day to plan. Gap up opening & hitting the resistance by 09.45. The 30mts of move would have changed everyone bias to the long side. That was 1% ~ 429pts…
Well the day did not go as planned for me, if you have read my yesterday’s report you might be cursing me by now. I was pretty bearish, atleast that was what the 1hr chart told me. So when bank nifty opened gap up at 40671 i thought the first resistance at 40698 will hold….
Today’s expiry was totally different, something i havent seen for many weeks. Mainly the premiums were dead low coupled with directional move that came very late in the day. Traders who got into straddles & exited by the noon would have made handful today, but people like me who depend on volatility as entry criteria…
Today was relatively flattish trading day except may be the period 13.50 to 14.10 when we had a minor scare ! There are 2 major news, one acting on the bull side & the other bearish for bank nifty tomorrow ! HDFC & HDFCBk merger news 2. India’s GDP rises to 4.4% vs 4.6% estimates So the…
Surprising price action by bank nifty today, especially the last 40mts when the bounce from the support took it to the HOD. The preopen rates today was not indicating any hint of green, still bank nifty hit the resistance in the 4th candle after the gap down open. The first candle it fell to the…
Bank nifty price action is getting exciting day by day, TradingView has opened up this feature called as Minds (with the call out icon) — its like a running commentary we can do while the trades are taking place. Let me explain few pointers posted in the TV minds & why it made sense then. Bank nifty…
We had a relatively stable trading day today, bank nifty was nicely held between the adjacent support & resistance levels. But the opening moves were quite scary. Bank nifty opened inline at 39983 and started falling pretty quickly, we took the 1st support 39839 by 09.35 and the next major support of 39742 by 09.45….
