Nifty50 missed ATH by 6 points, the real reason was due to bank nifty — will explain it to you today. Banknifty made some strange price actions today. Nifty50 had a gap up opening and was roaring to break the ATH, banknifty on the other had had an inline opening and was stuck below the resistance. The…
Quite an unexpected performance by NiftyIT today up +1.51% which would have spoiled the party for the Nifty50 bears. Last week as it ended was looking pretty negative for Nifty and flattish for BankNifty. Banknifty had a steady day today, down only 0.1% but the prices were consistently falling giving the impression that selling is…
If you go by the levels US markets closed on Friday — SPX 2.28%, NDQ 2.78% we should have started much more strongly today. Bank nifty opened 42404 up 0.44% only and then closed the gap within the first 15mts. The buying momentum was surging in NiftyIT index and Nifty50 which prompted buying in bank stocks as…
Remember yesterday’s discussion around the 43255 support region, thats exactly where bank nifty opened today — 43261. The 1st candle took support and closed the gap, the 2nd and 4th candle also closed in green taking bank nifty to green. US market — SPX ended yesterday with cuts of 2.49%, so it was quite sure bank nifty will not…
Today’s price moves are quite interesting — Nifty50 ends the day with a loss of -0.61%, NiftyIT flash crashes at -3.14% but our hero Banknifty ends the day green +36.6pts. Such is the brute strength of the Banknifty bulls — really intense. BN opens gap up at 43765 new ATH and then hits intraday high of 43853 by 10.05….
