I had given a long call on Friday, 11th Nov looking at the intraday chart pattern. It turned out wrong & would have been a disappointment to those who follow my analysis. Bank nifty opened at 42177 in line with the chart pattern as of 11th Nov and did not really go anywhere. BN traded…
What a spirited performance by bank nifty today! Mega gap up opening at 42163 breaking the all time highs and a perfectly strong buy day today. The attempt to close the gap was short-lived when BN took support at 41929 (The swing high of the last few sessions). This was quite expected after the mega…
Quite glad yesterday’s shorting idea worked — read here. But not that glad the last 2 hour recovery really messed with my analysis. Bank nifty opened gap down at 41462 (right at the support line of 41459). BN tried to close the gap in the first 5mts itself but didnt have enough momentum. Yesterday we had analyzed…
Bank nifty might have closed in the green today, but i am of the opinion that the price action formed today is negative. I would like to short bank nifty from here especially because its weekly expiry tomorrow. BN opened gap up at 41914 made a strong red candle — keep in mind this is the all…
Quite an eventful day today, Banknifty opened mega gap up at 41740 crossing 2 resistance levels in a single go (41314 & 41459). The first candle was red but with a long wick on the bottom — indicating that the opening trade was favoring the buyers. The major reason for the gap up was SBI which published…
Sometimes the best technical indicator is the normal support & resistance. As a Wiseman said — commonsense is not so common Banknifty opened right at the support/resistance level of 41314 touched the next resistance level of 41455 in the first candle. The 3rd candle showed a bullish tone when i thought BN took support at 41314 and rallied…
I am not worried with bank nifty moving up like that — but on a day where the global cues were very negative — quite impossible. Bank nifty moved today quite contradictory to the global moves. Frankly what is happening to India’s banks — is there so much positivity to bury the global macros ? S&P500 down 2.5&, Nasdaq100 down 3.39% and…
If the interest rates increase its good for the banks & they could rally, but its sentiment negative for all the borrowers. S&P500 and Nifty50 could react differently too as the US market has lower weightage on financials compared to India. Glad yesterday’s short call worked on bank nifty — read here. The price action formed today is…
The price action formed today is negative, i am inclined to go short although nifty50 shows contradicting signals Bank nifty ended today’s trade flat with a drop of only 0.04%, but i feel the price action was on the negative side. BN opened gap up at 41552 made a red candle first 5mts, and then…
Quite surprised by the bottom wicks getting created between 13.30 to 14.59 — never have i seen this before… Bank nifty opened gap up at 41265 rallied above the resistance line and closed the first 5mts candle in red. The length of the candle was quite long — indicating the amount of trades taken place to settle the price…
