Finally some volatility to keep the bears alive. This entire week the technical analysis was saying keep buying. See how a fundamental change can alter the sentiment. The MSCI news hit just before the start of the day and HDFCBK and HDFC were down 5% in pre-open. The biggest loser was Finnifty index compared to…
Weekly Analysis Banknifty has gone up by 1.58% ~ 678pts from last Thursday to today. It has taken out 2 crucial resistance points in the process and nearing the ATH now. Really impressive performance — the banks in India are standing out with their outperformance. Global financial institutions are melting down and many US banks are trading…
Signs of tiredness visible in the price action today. To start with, never expected that our indices will close in green today, even though the momentum is slowing, it is pushing up the bulls inch by inch. Nifty50 was having more positive price action vs banknifty today — that may be because there are 2 more resistance…
Monthly Analysis In this monthly series banknifty has moved up 2958pts ~ 7.40%. By any standards that is really superb. It has taken out 7 crucial resistances in the process and is now exactly at the 8th resistance point. This outperformance is cementing India’s growth story to the global financial markets. Everywhere else the news…
I am sure most of the traders would be surprised with the kind of bullish price action we saw after 10am. Since SPX closed -1.58%, NDQ -1.89% yesterday — most of them including me expected Nifty50 and banknifty to close in deep red today. The gap down opening at 42559 was perfectly at the support level and…
For traders who are playing banknifty expiries on Thursdays can play the same trades on FinNifty on Tuesdays. The margin requirements are lower and now since the option premiums are staying low — the ROI in finnifty is better than banknifty. Today was a flat day, open was at 42731 and then it was struggling to keep…
By 09.15 around 90% of traders would have guessed how banknifty is going to trade today. Thats because ICICI bank had an excellent quarterly results to boast for. The predictability of banknifty is, one leading bank is enough to pull up the sentiment of others. Same on the downside as well. Opening was gap up…
Banknifty had a narrow range based trade today with a minor negative bias. Yesterday’s swing low was breached by 13.40, but it does not pose a major scare yet! The pattern may look bearish on the 5mts TF, but it actually isnt. Banknifty is comparatively outperforming the Nifty50 and NiftyIT index for the last 3…
Banknifty really held its cool today! During preopen INFY was showing an open rate of -10%, and everybody would have thought we are going to see a massive sell off today. IT sector in total was in focus today as the INFY even though had not so bad results was quoting at 10% lower circuit….
We will start with the weekly analysis first, that is what happened in the series 7th to 13th April. The revised format is to provide an executive summary per week. This will benefit you for further research. Since 7th April was holiday, I have taken the closing price of 6th April as starting point. We…
