We had another interesting day today, technically the open & close of bank nifty was near the same — but there was some price action thats worth analyzing. The opening candle was long red body with a short tail, by the 2nd and 3rd candle BN recovered what was lost in the 1st. From there it started…
Lets go by the crowd’s mindset — What would you have done today morning just after the pre-open wherein bank nifty indicated a gap up opening & HDFCBk (most weighted component) had a superb results QoQ. Ans: You would have gone long today — right? And thats where the smart money would have trapped you. Gap up opening at…
The bullish bounce that was overdue is done today, remember we had discussed over last 2 sessions that the option premium data is showing a short term bullish stance. So it was just an ultra short term target, we also discussed it might be the counter move to the finnifty expiry tuesday. Bank nifty’s today’s…
Well for starters — yesterday’s bullish call didnt go that well. Niftybank ended 0.21% lower. Luckily its only down 37 odd pts because at 13.35 we were 595pts ~ 1.41% from the HOD. If you had read by bullish call before that — you would have thought i am crazy. From an expiry trading perspective today proved to be…
Bank nifty fell 1.33% ~ 568 pts today, but the option prices were behaving like we had a 5% fall intraday. Yeah the intensity of the fall was quite strong, but the level in which options premium jumped — its quite hard to believe. What i feel is the Finnifty expiry on tuesday is creating unwanted speculation…
Probably you would feel it repetitive when i said the nifty and bank nifty made moves when the US markets were on holidays. Look what happened today with bank nifty — we have negated the 2 day’s of price action ie. 02 Jan and 03 Jan. Which means we have closed today at the same value as…
When i said i was bearish yesterday, a drop of 32pts was not what i was referring to. Bank nifty held its head high almost the entire day, only the 15.10 candle shows some signs of weakness & a minor break of support. I was literally unable to take any trades today such was the…
Bank nifty lost over 1.75% today of which ~ 1% was lost in the gap down open itself. The open was at 41951 pretty near to our support line 41940. The first candle showed positivity & i thought maybe bank nifty will hold the level. By the 2nd candle it had fell back to the…
Bank nifty opened today 42864 just below the resistance level of 42888 and the intention to go lower was very clear. By the 3rd candle the support level of 42574 was tested and by 09.35 we had a first break down. The candle at 09.45 was pretty strong green and may have deceived many like…
The inability of BankNifty bears to take out the support 43253 should be viewed as a good sign. We did discuss about this in the last article — read here Today’s price action was nothing special, a small range bound trade today. Opened at 43346 and then rallied down, the first candle itself closed right at the…
