Had a real eventful expiry today, with almost a 500+ pts fall from 14.20 to close. Yesterday we discussed about a roof like pattern formed intraday — read here. And today’s price move was in continuation of that trend. Yesterday the handover from US markets were not that positive — but even in bad times our markets has outperformed…
Its become business as usual for bank nifty to take out the all time highs — new ATH is now 44151. Today bank nifty opened gap up at 44078 mainly because yesterday’s handover from US markets were quite good. US CPI (Inflation) came 20bps below their estimate and that triggered an immediate surge on SPX by 2.71% — the…
Quite a different trading day today, the opening set up was looking as bearish but bank nifty recovered all the losses but didnt have enough power to rally up S&P500 index dropped 0.73% on friday — setting a negative tone for the Indian markets. Going by the same sentiment bank nifty opened gap down at 43455, made a…
RBI Governor announced the Repo Rate hike of 0.35% to 6.25% currently — see the minutes here. Inflation in Oct 2022 reduced to 0.6% to 6.8%. And our GDP growth reduced to 6.8%. Listening to the speech i felt the global economy is in big trouble & India is in a far better shape. Also there is…
Strange looking opening candle by bank nifty today. Mega gap down opening at 43093 and in the first 5mts a rally to close the gap. 193pts ~ 0.45% recovery in the opening 5mts and then a build up till 09.55. From there we had a breakdown till 11.05. Kotak’s Nest trader had price tick issue…
Relatively a quieter day with no major swings. The opening was a deep gap down at 42976 and we had a green first candle. Approx 142pts recovered in the opening 5mts. Ideally bank nifty has to be compared with Nifty50 to get some relativity. Bank nifty was more stable than Nifty today — Nifty kept on dropping…
Feeling pretty tired after watching today’s price action. For the last 3 days i have been looking out on the bearish side of bank nifty. The day started gap up and then a rally of 127pts in the first 5mts candle. This was inline with the recent swing high level — took an immediate resistance and then…
On Friday 25th, I had a bearish call for Bank nifty — read here. Did it work out as expected — ABSOLUTELY NO ! Refer the chart below, bank nifty opened gap down at 42757 and for a moment i thought its all going as per the plan. But the first candle itself was pretty strong and by 09.30 BN…
Bank nifty had a good up day today, starting with a good gap up and then rallying from there. Absolutely no stopping the markets now, nifty50 had a flattish day — but bank nifty outperformed. I seriously cant think of anything that will break the bank nifty now — where are the short sellers? FIIs are selling but the…
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…
