How many of you were prepared for the last 1 hour move today, I assume 90% of traders would have anticipated it. The real wow moment would be if we get to see the unwinding tomorrow. At least till the 43528 levels. We added 331pts between 14.25 to close today, most of which were due…
Nifty was looking fully loaded to hit a new all time high today, it ended 23 pts short! Probably Nifty50 requires more postmortem than banknifty today, so let us start there! N50 started the day gap-up thanks to the +ve handout from SPX yesterday. Once it reached the resistance zone of 18762, it lost steam…
Today’s price action is very interesting mainly because banknifty proved the last 30mts of surge yesterday was fake banknifty won the tug-of-war with nifty50 at 15.00 today We will analyze both of them in detail. We had an unusual gap-up opening and then sudden fall of 220pts ~ 0.5% in 20 minutes. Banknifty went below…
Another day went by where the last 1 hr changed the sentiment of the day. Banknifty rallied 188pts ~ 0.43% from the LOD to the HOD all in 65 mts 14.20 to 15.25. Till that point the view was bearish and open for shorting opportunities. Just check the encircled area, banknifty was struggling to go…
It is happening everyday, even today. Banknifty went up 198pts in 25mts between 14.45 to 15.10, again a closing hour move! The last 1 hour moves in index is not something new now, I am still guessing many traders would have anticipated a directional move today! If we look the chart, the scope for that…
Yesterday’s high of 44483.35 broken today, the new ATH is now 44498.6 thanks to the last 2 5mts candles of today. Banknifty is now in some real good form — not planning to retire any time soon. Would have got some inspiration from MSD from the IPL 2023. The opening was not that exciting, we even fell…
Today’s price action on the 3 indices Nifty50, BankNifty and FinNifty were conflicting due to which none of them really went anywhere. NiftyIT had a down day that doused the fire in Nifty50 to break-through the resistance of 18419. Similarly Finnifty was unable to get past 19421. From the start there was huge shorting on…
There was a fall of 306pts ~ 0.7% between 14.40 to 15.20, even then banknifty does not appear as negative as Nifty50 after today’s session. The options traded on banknifty CE side was really commendable, but nothing like Nifty50 CE strikes. In the same comparison period N50 only fell 0.61% but the preceding price action…
The real move came a little late today, from 12.45 to close wherein banknifty gave up 403pts ~ 0.93%. I was expecting the fall to come in the morning session — but the finnifty expiry trades would have limited this damage to a great extent. For some reason Axis Bank and IndusInd bank was quite strong today…
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…
