Few things went as planned (till 10AM) and after that I was like the deer stuck in the headlights. No way I could believe the rally of 560pts ~ 1.31% from 10.05 to 15.20. I was having the short-sell bias ever since the bad news broke about MSCI on HDFC-HDFCBk. So I was kind of…
Banknifty held out to a perfect trend continuation from yesterday. If we notice closely the pull backs were not strong enough to break the momentum. I sincerely thought we will have a reversal or a bearish day today and had taken PE debit spreads to capitalize. If we analyze today’s pattern closely bank nifty took…
There are few important aspects to the price action today. We stuck to a small range today — it would have been good for intraday straddlers & short iron-fly, iron-condor strategy deployers. So we opened inline at 39484, many would argue that it was a gap up. But i wouldnt say that because of the price action…
Today happened to be a boring day mostly because bank nifty stuck to a specific narrow range all day. Usually we have one or two swings which will spike up the options premium, Yesterday i did mention the possibility that we could expect a fall today if the 2nd half of yesterday’s session was resultant…
Today was a different day for me personally, i almost lost focus at around 10.30am & i posted the same in banknifty minds. “$BANKNIFTY i have no clue on the direction — options data/flow is confusing today” I normally use options flow/data to guess the direction of bank nifty rather than the direct candle stick or chart…
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…
Apologies for not able to prepare this report earlier in the day as i had some personal commitment. The day was nothing short of exciting though, well not as much drama as yesterday. Even though bank nifty traded in a tighter range today — the options premium were bloated. Knowing very well its an expiry day too — option…
Another boring price action today, the minimal variance in options premium after the morning jump shows the lack of volatility today. Gap up opening at 42891 right at the resistance level of 42888, The first candle showed a brief rejection, but the 3rd and 4th candles were quite strong and surged ahead. BN hit HOD…
Quite an uneventful day today, bank nifty did not break the nearest support or resistance level which means the range bound trade continues. Open was inline wrt previous day’s close, but we started falling in the first 20mts. Nothing major and we had a quick reversal & bullish rally. From the LOD we went up…
We had another interesting day today, technically the open & close of bank nifty was near the same — but there was some price action thats worth analyzing. The opening candle was long red body with a short tail, by the 2nd and 3rd candle BN recovered what was lost in the 1st. From there it started…
