I had given a long call on Friday, 11th Nov looking at the intraday chart pattern. It turned out wrong & would have been a disappointment to those who follow my analysis. Bank nifty opened at 42177 in line with the chart pattern as of 11th Nov and did not really go anywhere. BN traded…
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…
Bank nifty opened at 41236 below the resistance level of 41312 & made a real green bullish candle. A move of 206pts in the first 5mts itself. This did not last and the gain was given up by 09.50 wherein the support level was broken conclusively. There was a test at this SR level, price…
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 40370 almost midway between the support & resistance levels. The opening 15mts indicated the direction is towards upside (3 good green candles) and we were not disappointed. Usually BN makes fake move in the opening minutes — but today’s strength was quite strong. #AXISBANK had announced good results & this was…
Bank nifty opened gap down at 40149 almost at the support level and then continued to trade downwards. Looking at the first 15mts of trade i thought we would see a giant red daily candle — but that did not happen. The selling got arrested 39887 level even before the 2nd level of support reached. This may…
The day began with an arbitrage — SGXNifty value = 16957 | Nifty50 preopen value = 17100. There was close to .09% money making opportunity translating to Rs7250 per lot of nifty futures traded. SPX ended friday’s trading with a 1.51% fall, NDQ — 1.73% — so its quite normal that we expected India indices to begin low and fall further. But…
BN opened at 37660 and made a strong red 1st candle, i personally thought we will have a down day, and i held that belief till 10.15 when the first resistance got taken out. I started the day with selling CE options, but when i saw this counter move i squared off CE side and…
Bank nifty opened gap down at 40977 tried to close the gap till 9.35 but broke down, made an interim low at 10.00 and then tried to close the gap again till 12.35 but failed. The price action from 12.40 to 14.20 was the only realistic move made by bank nifty this week. Imagine when…
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…
