Before we get into today’s analysis let us spend some time on Inflation, MPC minutes by RBI & health of banking sector. You might be aware we have the MPC minutes & interest rate decision tomorrow. There are 3 possible outcomes status quo dovish hawkish What really prompts RBI to rate hike are 2 things…
We had a perfect trend continuation day today, see the purple line — the trades were in the same degree of slope as on the previous working day. Banknifty opened at 40695 today and then slowly started climbing. We were in a small range of 40550 to 40690 between open and 12.05 — this was mainly because of the…
So the fiscal year comes to a close today, but today is the start of April series for banknifty. The first weekly expiry falls on 06 April& the monthly expiry is on 27 April. Hoping that you all had a good financial year 2022–23 and your trading dreams came true. For me — I could say with…
March series is coming to a close tomorrow, but the options premium is already dead. Only few strikes near the money has some more premiums to shed, all the other OTMs are well below the average rates to what we usually see on the penultimate day of expiry. It also translates into very little movement…
There are few important aspects to the price action today. We stuck to a small range today — it would have been good for intraday straddlers & short iron-fly, iron-condor strategy deployers. So we opened inline at 39484, many would argue that it was a gap up. But i wouldnt say that because of the price action…
Traders expected a bullish day today. They cannot be blamed because on 22nd we had a solid trade day above the crucial support level of 39742. But something was certain, once we broke that level yesterday we should really look out for bearish opportunities not the other way around. The level of 39742 became so…
Interesting price action today, not only did bank nifty end 0.96% down — it broke the crucial support of 39742 today. You might be already aware that i was expecting a bearish week, the 39500/39400 4:5 debit spread of mine was sitting at a loss right from monday. Today’s gap down opening at 39836 gave me some…
Today was a different day for me personally, i almost lost focus at around 10.30am & i posted the same in banknifty minds. “$BANKNIFTY i have no clue on the direction — options data/flow is confusing today” I normally use options flow/data to guess the direction of bank nifty rather than the direct candle stick or chart…
The trades till 14.20 was kind of predictable, but the last 1 hour was really special. Bank nifty got wings ! The open was gap up at 39442 and then we started dropping gradually. At around 10.00 i posted “$BANKNIFTY PE premiums are unusually high ! either traders expecting huge downside today or maybe its good time…
Banknifty showed some strength today, mostly signs of a pause after a breakdown over the last sessions. We opened at 39061 pretty much inline with yesterday’s close and quickly started falling to the support zone of 38690. The price action was perfectly aligned with how we traded yesterday, see the highlighted section in cyan color….
