The beast in banknifty got unleashed today, after a long gap banknifty options really started surging today! You wont believe the OTM prices went above the traded range of Wednesday, that too today being an expiry day! BankNifty Weekly Analysis During the current expiry week 9th to 15th June, banknifty shed 556 pts ~ 1.27%….
Just look at the 5mts chart of banknifty today — what do you see? I see the strength of the bulls. Even though the opening was gap-down and below the support line 43253, banknifty managed to scale back by 10.45. The first attempt was rejected — rightly so because Nifty50 was looking weak and the market participants would have…
If the interest rates increase its good for the banks & they could rally, but its sentiment negative for all the borrowers. S&P500 and Nifty50 could react differently too as the US market has lower weightage on financials compared to India. Glad yesterday’s short call worked on bank nifty — read here. The price action formed today is…
The price action formed today is negative, i am inclined to go short although nifty50 shows contradicting signals Bank nifty ended today’s trade flat with a drop of only 0.04%, but i feel the price action was on the negative side. BN opened gap up at 41552 made a red candle first 5mts, and then…
