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…
Its become business as usual for bank nifty to take out the all time highs — new ATH is now 44151. Today bank nifty opened gap up at 44078 mainly because yesterday’s handover from US markets were quite good. US CPI (Inflation) came 20bps below their estimate and that triggered an immediate surge on SPX by 2.71% — the…
Bank nifty broke out and made an all time high of 43163 today. The opening was at 42838 negating yesterday’s fake price move from 15.00 to close. Notice how yesterday’s rally continued with the yellow encircled region. Today’s open and forenoon trade was in perfect alignment with the rally that started yesterday. Since its a…
Banknifty made some contradicting moves today with respect to the moves in Nifty50. Nifty50 is showing an interim top formation on 15mts, 1hr chart but BankNifty is not showing signs of cooling down — every selling move is getting arrested. Lets analyze today — BN opened at 42286 a gap down wrt last session and then made a green…
Bank nifty opened a bit gap down at 38957 and till 09.50 it was failing to close the gap or trade higher. Remember yesterday we discussed that the top made on 12th did not break the swing high of 11th — read here. It proved that the final hour of yesterday’s close was basically short covering and…
Bank nifty made some interesting price action today. It opened at 38784 above the support line of 38698 went down all the way to 38606 and closed the first candle above this support. Well that was the low for the entire day — the support level was tested once more between 10.45 to 11.10 after which BN…
SPX fell 2.8% & NDQ 3.88% on friday and the handout to us today morning was not that positive. As expected bank nifty opened gap down 38461 below the support level of 38698. The first candle was bearish, closed down & may have indicated that the rest of the day will be negative. But what…
Bank nifty opened 39343 right at the resistance line made a long wick 5mts 1st candle. The 2nd candle broke the SR line. At 09.40 after seeing the red candle i assumed BN will trade lower and exited the 39500 iron fly at the cost price. I was not expecting BN to go up and…
BankNifty opened gap down at 39027 breaking the support level of 39327. Tried to recover in the 1st and 3rd candle but the selling pressure was so heavy that it couldnt keep up. What happened from 9.25 to 11.05 was strong selling that even resulted in the 2nd level of support being taken out. This…
As expected Bank nifty gap’d down and opened at 440889, but as unexpected BN rose to fill up the gap till 9.35. And what happened from 9.40 to 10.40 was again as expected wherein the BN falls to the support and then makes a pause. Infact what even happened from 11.05 to 12.40 was as…
