Bank nifty broke out and made an all time high of 43163 today. The opening was at 42838 negating yesterday’s fake price move from 15.00 to close. Notice how yesterday’s rally continued with the yellow encircled region. Today’s open and forenoon trade was in perfect alignment with the rally that started yesterday. Since its a…
Banknifty made some contradicting moves today with respect to the moves in Nifty50. Nifty50 is showing an interim top formation on 15mts, 1hr chart but BankNifty is not showing signs of cooling down — every selling move is getting arrested. Lets analyze today — BN opened at 42286 a gap down wrt last session and then made a green…
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…
A very good trading day today, bank nifty opened in line at 42371 made a long legged doji in the 1st candle and then made 7 consecutive candles with 100pts swings in each before deciding on the direction. We had a up day today with a decent run from 09.50 to 11.30 and then a…
Bank nifty might have closed in the green today, but i am of the opinion that the price action formed today is negative. I would like to short bank nifty from here especially because its weekly expiry tomorrow. BN opened gap up at 41914 made a strong red candle — keep in mind this is the all…
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…
Banknifty opened gap up at 41513 much above the final resistance level of 41312. The first candle was a huge bearish one with its close breaking the support level. I seriously expected the further candles also to be bearish as the tone set was bearish. But what followed was quick recovery ie from 09.20 to…
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…
Today’s move in Bank nifty quite opposite to the one we had yesterday. Opened at 41282 gap down, just below the support line 41312, rallied & filled the gap in the first candle and then gave it away. Made an interim low at 10.05 rallied back the SR line and then made a lower swing…
BN opened at 35298 gap down wrt yesterday’s closing mainly due to bad global cues. It immediately filled the gap by the 2nd candle itself. From there it was trading in a smaller range till 14.30. The price action from 14.30 looked very interesting and powerful — continous red candles with no pullback. And closing just below…
