Bank nifty opened gap down at 40977 tried to close the gap till 9.35 but broke down, made an interim low at 10.00 and then tried to close the gap again till 12.35 but failed. The price action from 12.40 to 14.20 was the only realistic move made by bank nifty this week. Imagine when…
Bank nifty opened 41533 gap up today, made an intraday high in the 3rd candle and then fell to the support line at 41312. Most importantly this support line proved to be quite a fight with swings up and down — and final close at 41208. The opening swing would have taken out most of them by…
The handout from US markets were very weak, S&P500 falling 4.3% overnight. And as expected bank nifty was supposed to start gap down and further break down. Contrary to the expectations, this is what happened — BN opened gap down 565pts at 40308 and made a mega rally to close at all time highs. Within the first…
Bank nifty opened gap up at 40802 almost +228 points. The first candle was bearish red & i thought bank nifty will close the gap, but it didnt. Note that BN is trading near all time highs and there is no resistance level here. In spite of these, BN is not breaking down — so the bulls…
Bank nifty as flat as it can be, opened gap up at 40540 and closed at 40561. If we ignore the 2nd & 3rd candle — the rest of the day was traded with stability & calm. For a moment i thought BN was planning to trend down when i saw the 2nd candle, but it was…
Bank nifty opened gap up at 40520, note this gap up is above the topmost support line at 40149. There is no resistance level and as per technical analysts the least friction for the market is to move up. The opening 75mts of trade was much similar to that theory, at a point in time…
For those of you who would have read yesterday’s comments regarding the short-covering, if not read them — click here Bank nifty opened right at the resistance level with a gap-up, the resistance now became support and held quite strong. Infact there was only 1 attempt today to break it and that too in the 2nd candle….
Bank nifty opened at 39337 gap down right at the support level of 39330, made a small dip but held above this line throughout the day. At 12.15 and 13.40 BN tried to fill the gap but failed. Today’s trade was in a short range if you look at the open and close. But the…
Bank nifty was in a stable range today, much different from the fireworks we have seen last 3 trading sessions. BN opened at 39422 and closed at 39375, the intraday high of 39595 and low of 39200. The first 5 minute candle was interesting, opened gap up and rallied close to 172 pts and then…
Eventhough bank nifty respected the support & resistance level today, the price action was really abnormal. BN opened mega gap down at 38806 rallied through the resistance line, made a top at 39667 above the swing high of yesterday. At 10.30 the market felt like crashing — but it did not. There was a gradual decline to…
