Nifty Analysis Recap from yesterday: “Nifty has made an island today and is in uncharted territory. If the momentum persists, we can see unusual outperformances. If there is negative news or weakening global macros — we can see a fall too. Since we have broken out from an ATH, the chances of momentum continuation are higher. I…
Yesterday we started discussing on the habit of banknifty taking out the support & resistance via gaps. Thats what happened today also. We opened gap up at 42994 above the resistance level of 42888. This was the same resistance level that had a breakout failure yesterday, so today we took that out in open. The…
When i said its going to be a down day today, I expected a drop of 1 to 1.5% not just 0.18% — see yesterday’s analysis as link below Bank nifty opened 42399 gap down and on expected lines as the global handover was quite negative. But in the first 4 candles itself BN had recovered the…
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…
Bank nifty opened gap up at 40252 much above the resistance level of 40154. The first candle was bearish, so was the price action till 09.35. But the support level of 40154 held quite strong and there was an immediate bounce. The green candle at 09.40 almost took back the bearishness of the preceding 3…
The day began with an arbitrage — SGXNifty value = 16957 | Nifty50 preopen value = 17100. There was close to .09% money making opportunity translating to Rs7250 per lot of nifty futures traded. SPX ended friday’s trading with a 1.51% fall, NDQ — 1.73% — so its quite normal that we expected India indices to begin low and fall further. But…
Bank nifty opened at 39337 gap down right at the support level of 39330, made a small dip but held above this line throughout the day. At 12.15 and 13.40 BN tried to fill the gap but failed. Today’s trade was in a short range if you look at the open and close. But the…
