Signs of tiredness visible in the price action today. To start with, never expected that our indices will close in green today, even though the momentum is slowing, it is pushing up the bulls inch by inch. Nifty50 was having more positive price action vs banknifty today — that may be because there are 2 more resistance…
Weekly Analysis Banknifty has gained 0.29% ~ 123pts from the last Thursday to today. Except for the 1st hourly strong candle on 17th, the rest of the trading was range bound with a slight positive bias. The range banknifty traded in (max swings) indicated below. It just had a maximum swing of 1.28% and this…
Banknifty had a mega pre-open boost by Kotak Bank, it was up 5% by 09.10 which indicated the bears will get their bones crushed today. Contrary to the popular belief, Kotak bank has the 3rd most weightage to bank nifty above SBIN and AXIS even though kotak has lower net interest income. And today’s 5%…
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…
Interesting moves by bank nifty today, the closing statement from my yesterday’s report said. I personally would like to wait for the range to be broken decisively before changing my bearish bias. Got lucky with the analysis yesterday as banknifty was consistently proving me wrong in this calendar month so far. But i am sure…
Yesterday we discussed the possibilities that the Finnifty expiry would have interfered with the BankNifty’s natural price flow. It was almost proved right today ! Bank nifty opened gap down at 40494 well below the resistance zone of 40700. From there it was an unidirectional fall till almost 14.15. A total fall of 1.95% ~ 794pts…
What good was done yesterday is undone today, we had a resistance rejection as well as the support breach — bank nifty below 41624 again ! Most of them would have guessed it right that bank nifty wont break out from the 41940 resistance zone. But very few would have guessed that we will have a breakdown of…
Looking at the opening 30 minutes i seriously thought today’s price action is really going to be awesome. I was fully loaded with a 41000:40900 debit ratio that would have made a lot of money if bank nifty crossed the 40900 barrier. And for a moment i seriously thought we will have deeper cuts, but…
Apologies for not able to prepare this report earlier in the day as i had some personal commitment. The day was nothing short of exciting though, well not as much drama as yesterday. Even though bank nifty traded in a tighter range today — the options premium were bloated. Knowing very well its an expiry day too — option…
Well for starters — yesterday’s bullish call didnt go that well. Niftybank ended 0.21% lower. Luckily its only down 37 odd pts because at 13.35 we were 595pts ~ 1.41% from the HOD. If you had read by bullish call before that — you would have thought i am crazy. From an expiry trading perspective today proved to be…
