Bank nifty fell 1.33% ~ 568 pts today, but the option prices were behaving like we had a 5% fall intraday. Yeah the intensity of the fall was quite strong, but the level in which options premium jumped — its quite hard to believe. What i feel is the Finnifty expiry on tuesday is creating unwanted speculation…
If you go by the levels US markets closed on Friday — SPX 2.28%, NDQ 2.78% we should have started much more strongly today. Bank nifty opened 42404 up 0.44% only and then closed the gap within the first 15mts. The buying momentum was surging in NiftyIT index and Nifty50 which prompted buying in bank stocks as…
Today’s 5mts TF shown below — when you look at the last 3 day’s price action together, what forms is a continuous falling chart. Price line is moving similar to the EMAs in a 45 degree downward slope. Is this technical? I dont think so, this has to be more fundamental based — thats why FIIs are continuing to…
Take a look at the chart below, 5mts TF its a perfect continuation from yesterday — we broke the 1st support at 09.40 and 2nd support at 13.15 in the single leg. And then we had a retracement back to the SR level (yellow dotted lines) and final close there. So what do we infer from the…
Probably you would feel it repetitive when i said the nifty and bank nifty made moves when the US markets were on holidays. Look what happened today with bank nifty — we have negated the 2 day’s of price action ie. 02 Jan and 03 Jan. Which means we have closed today at the same value as…
We had a good price action today mostly following up from the moves from yesterday. Today’s open was gap down at 43151 but if you take a look at the candles formed over the next 15 to 20mts its very much in continuation with the move started at 14.20 yesterday. The uptrend went on till…
Quite a boring day today with bank nifty, maybe the bulls would have already started partying for the wonderful year they had in 2022. 21% return on investment for bank nifty this current calendar year — why would the bulls not party? BN gap’d up at 43401 and was falling gradually, there was an interesting candle at…
I dont know why the bank nifty didnt fall today, the science seemed so solid — if i were to borrow King Julian’s words from Madagascar. The handover from US market was negative as expected and today’s opening was a gap down at 42684. The first candle was red went down to the support level of 42573….
When i said i was bearish yesterday, a drop of 32pts was not what i was referring to. Bank nifty held its head high almost the entire day, only the 15.10 candle shows some signs of weakness & a minor break of support. I was literally unable to take any trades today such was the…
After yesterday’s rally, today we had a consolidation which can be taken positively. But the real test comes tomorrow as today’s stock action in US markets will show its true color (red mostly) on wednesday 28th Dec. This is largely because we had an unexpected 2.3% spike yesterday and major markets were on holiday And…
