BN opened at 38516 gap up, within the 2nd candle it broke the first resistance of 38699, however spent time around it till 10.40. The surge up was not arrested till the next resistance of 39330 was hit at 13.50. Again BN spent time till 14.40 around this level before breaking out again and closing…
Bank nifty’s today trade happened within the range set yesterday. The opening was gap up at 39129 moved up hit the resistance line at 38699 and then consistently moved down till 11.15. From that time to 14.55 the trades were well contained and peaceful. But at 15.00 there was a heavy move of 250 points…
Today’s bank nifty movements were quite peculiar. BN opened gap up 39190 rallied up to the resistance line 39330 and continued to settle down around this level. At 11.20 bank nifty made a shocking downside move right at the resistance level, fell almost 150pts in this 5mts candle. What did happen was that all the…
BN opened gap down at 38552, crossed the resistance level in the first candle itself. Resistance now became support, although it was tested in the 4th candle by the 10th candle bank nifty was comfortably placed. The price actions after breaking the resistance was nothing spectacular today until 14.45. The last 45mts saw immense short-covering…
Bank nifty opened today right at the support level at 37955 (see yesterday’s SR — click here). The first 2 to 3 candles were quite bullish filling up the gap. BN rallied all the way to 38560 level before pulling back. The price action from 10.05 to 11.05 was not so volatile as we thought it should…
Bank nifty opened right at the support level of 38700 gap down to the previous day. The first 2 candles were strongly bearish which had set the tone for the day. I was hoping for further fall, but BN consolidated in the price range of 38450 & 38250 — knocking the upper & bottom band multiple times…
Finally some sanity in the markets today. The one way rally from July month was quite unconvincing, today’s price action shows there is a sense and character to the bank nifty we know. This minor blip will lead to either a small pullback or consolidation at current price levels. If it does we can confirm…
Bank nifty opened at 39324 at the support line, took support and rallied up. The rally was cut short at 10.10 and the BN came back to this support line. 12.00 BN took support and then rallied back and closed above the swing high made in the day. BN respected the support line very neatly,…
BN opened at 39351 gap up with a strong bearish first candle tearing through the support. BN hit an intraday low of 39202 in the 4th candle and then reversed from there. From 10.10 to 14.10 BN traded near the support/resistance line of 39237 before finally breaking out and closing higher. At 15.00 when BN…
BN opened at 39284 quite a gap up opening, traded higher for the first 6 candles and then was not able to sustain the momentum and gradually dropped lower. The 2nd candle itself took out the resistance quite a show of strength but eventually loosing the support. The big red candles formed near this support…
