Bank nifty opened at 41236 below the resistance level of 41312 & made a real green bullish candle. A move of 206pts in the first 5mts itself. This did not last and the gain was given up by 09.50 wherein the support level was broken conclusively. There was a test at this SR level, price…
Bank nifty opened gap up at 40370 almost midway between the support & resistance levels. The opening 15mts indicated the direction is towards upside (3 good green candles) and we were not disappointed. Usually BN makes fake move in the opening minutes — but today’s strength was quite strong. #AXISBANK had announced good results & this was…
Everyone would have expected bank nifty to go up today esp when S&P500 and Nasdaq100 closed 1.97% up yesterday. The gap up opening of 38092 above the resistance line of 37946 shows the level of expectations, but the big-boys had other plans. Check the volume on call option shorts yesterday — see here. The short side positioning…
Bank nifty decisively broke 2 support levels today — opened gap down at 40429 midway between the SR levels. Made continuous red candles and broke the first support level at 40149 at 9.30. The red candles didnt really stop till the 2nd support level of 39739 was reached. The first batch of selling took a pause only…
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 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…
BN opened at 35298 gap down wrt yesterday’s closing mainly due to bad global cues. It immediately filled the gap by the 2nd candle itself. From there it was trading in a smaller range till 14.30. The price action from 14.30 looked very interesting and powerful — continous red candles with no pullback. And closing just below…
