Nifty Weekly Analysis Between the last expiry day and today, Nifty has managed to rise 152pts ~ 0.78% which is a good sign for the bulls. This flattish phase was much required after Nifty picked up a direction from 21st July. The technical analysis points to a trend continuation possibility and should be good for…
If you just saw the open & close price of bank nifty, you would have missed the real drama of the day. A perfect day for the straddlers — but i am 100% confident none of the traders would have held onto their position till close to realize the full profits. Must admit there was no trend…
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…
Today was another day of personal disappointment for me as i could not find a suitable option selling opportunity. Bank nifty opened inline went over the resistance line of 41629 and then fell back to the negative zone. The open to HOD was only a move of 0.73% ~ 304pts. The swing of HOD to…
Today’s market price action would not have surprised anyone, thats mainly because we had some breathtaking moves last 2 to 3 days. So today bank nifty was pausing to take some breath. Tomorrow we have the Union Budget — so we can expect some moves after 11 AM when the FM starts her speech. But honestly the…
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…
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…
The inability of BankNifty bears to take out the support 43253 should be viewed as a good sign. We did discuss about this in the last article — read here Today’s price action was nothing special, a small range bound trade today. Opened at 43346 and then rallied down, the first candle itself closed right at the…
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…
