I recently attended the 26th Budget Conclave conducted by Malayala Manorama and the guest speaker was Dr. Rajiv Kumar. In his speech, he shared 2 slides India’s Banking Sector Growth in Demat account growth in credit to deposit ratio In the first slide, India’s credit-to-deposit ratio is shown as increasing. Let us break it down to…
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…
Quite an eventful day today spoiled by the last 30mts surprise. Honestly how many traders were expecting a rally of 340pts between 15.00 to 15.30 — i was not. In fact i was expecting a fall towards the 39400 levels. Lets analyze the trades on the 5mts chart today. Open was inline at 39611 and we tested…
Banknifty showed some strength today, mostly signs of a pause after a breakdown over the last sessions. We opened at 39061 pretty much inline with yesterday’s close and quickly started falling to the support zone of 38690. The price action was perfectly aligned with how we traded yesterday, see the highlighted section in cyan color….
Again we had a 4 support & resistance zone in play today, the price action formed is also quite tricky. The most commendable part is the conviction of bulls to rally bank nifty in the last 90mts and close it in green. In essence who could have really predicted the close in green, just look…
Honestly was expecting a turbulent and volatile expiry day today after SPX fell 1.56% & DOW 1.81% overnight. I was quite shocked to see the bank nifty pre-open rate of only -0.1% & i assumed we may tank close to 1.5 to 2% today. But what turned out was a boring choppy day in a…
Quite a boring day today with bank nifty, maybe the bulls would have already started partying for the wonderful year they had in 2022. 21% return on investment for bank nifty this current calendar year — why would the bulls not party? BN gap’d up at 43401 and was falling gradually, there was an interesting candle at…
Banknifty made some deep moves today engaging 3 of its support/resistance areas. Lets analyze it one by one Totally unexpected gap up open 43525 on weak global cues and then 3 up candles. From there a test of 1st support 43247 at 12.10 — a fail. Further down move and 2nd support of 42884 at 13.50 — also a…
Bank nifty opened gap up right at the resistance level and then made a quick drop to close the gap. Remember i was bearish on 2nd Dec Friday — and i expected the market to go further lower. It did go lower till 09.55 — but the series of price moves after that really surprised me. Bank nifty kept…
We opened today without a handover from US as it was Thanks giving holiday for them on 24th Nov. Bank nifty opened at 43192 just in line with the last hour trend that started yesterday. And went to a new all time high of 43339 at 09.30. This 5mts candle had a long top wick…
