Nifty Analysis Recap from yesterday: “If you have read my previous post-mortem reports, I have been staying neutral since the 17th and it looks like that is going to change tomorrow. As soon as 19875 is broken on the 1hr TF, I would prefer to go bullish. I will update you guys via the tradingview…
Nifty Analysis This is what I wrote yesterday — “For tomorrow, I have a 60% neutral and 40% bullish view as we are right at the upper channel and above the support.”. Never did I believe we could have a neutral closing today after the big gap-up open. Even till 13.15 there was no sign of weakness…
I am still keeping my hopes pinned on the Fibonacci levels marked as in the chart below. 43739 recent swing high, 42581 last session swing low and 43296 the 61.8% retracement level. It really looked like a short-selling setup as the bull momentum faded out after 11.15 — we went up 1.46% ~ 622 points today but…
I am making some changes in the chart layout from today’s report. It will be in white background going forward. This is after the feedback I got from the kindle publishing team that images with dark layout will look awkward when made into paperback. note: I will still continue to use the dark-mode chart for…
We had a perfect trend continuation day today, see the purple line — the trades were in the same degree of slope as on the previous working day. Banknifty opened at 40695 today and then slowly started climbing. We were in a small range of 40550 to 40690 between open and 12.05 — this was mainly because of the…
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…
Banknifty has made an unique price action today — again the day belonged to the bulls. Their never ending optimism is driving the valuations crazy. BN opened gap up at 42467 made 2 red candles instantly and came back to yesterdays close price. From there it traded with a slight upward bias and gaining steam last 40mts….
Bank nifty might have closed in the green today, but i am of the opinion that the price action formed today is negative. I would like to short bank nifty from here especially because its weekly expiry tomorrow. BN opened gap up at 41914 made a strong red candle — keep in mind this is the all…
Quite an eventful day today, Banknifty opened mega gap up at 41740 crossing 2 resistance levels in a single go (41314 & 41459). The first candle was red but with a long wick on the bottom — indicating that the opening trade was favoring the buyers. The major reason for the gap up was SBI which published…
Sometimes the best technical indicator is the normal support & resistance. As a Wiseman said — commonsense is not so common Banknifty opened right at the support/resistance level of 41314 touched the next resistance level of 41455 in the first candle. The 3rd candle showed a bullish tone when i thought BN took support at 41314 and rallied…
