Just look at the 5mts chart of banknifty today — what do you see? I see the strength of the bulls. Even though the opening was gap-down and below the support line 43253, banknifty managed to scale back by 10.45. The first attempt was rejected — rightly so because Nifty50 was looking weak and the market participants would have…
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…
I almost believed in everything that happened today, but not after 15.00. The spike seen on the 15.00 5mts candle reminded me of some cryptos that trade out there. Even Nifty50 had that unusual surge. I was monitoring all 8 nifty50 stocks — and could not believe a bit of it. It may been due to the…
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…
Just a bit of negative bias today — nothing major to be worried about! Banknifty still has outperformed Nifty50 this week. And trust me the chart of banknifty is looking strong. Today we opened inline at 42252 had 2 strong green candles and then started falling. From 09.30 to 13.05 we fell 0.99% ~ 419pts — but the options…
Weekly Analysis Banknifty has gained 0.29% ~ 123pts from the last Thursday to today. Except for the 1st hourly strong candle on 17th, the rest of the trading was range bound with a slight positive bias. The range banknifty traded in (max swings) indicated below. It just had a maximum swing of 1.28% and this…
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…
