What a day today ! I had to take some for things to sink in. We literally had 3 support & resistance in play today & that should make an amazing post mortem today. The open was inline at 42703 very near to the close yesterday, i was hesitant to go in with a debit ratio…
Yesterday we started discussing on the habit of banknifty taking out the support & resistance via gaps. Thats what happened today also. We opened gap up at 42994 above the resistance level of 42888. This was the same resistance level that had a breakout failure yesterday, so today we took that out in open. The…
Another boring price action today, the minimal variance in options premium after the morning jump shows the lack of volatility today. Gap up opening at 42891 right at the resistance level of 42888, The first candle showed a brief rejection, but the 3rd and 4th candles were quite strong and surged ahead. BN hit HOD…
Pretty unconvincing price action by bank nifty today morning esp after US markets SPX fell 0.76%, DOW 0.76% and NDQ -1% overnight. This is in addition to the fall on 18th. SPX has now fallen consecutively for 3 days from the resistance level of 3991 & now 3945. We hit the resistance of 42573 in…
Honestly was expecting a turbulent and volatile expiry day today after SPX fell 1.56% & DOW 1.81% overnight. I was quite shocked to see the bank nifty pre-open rate of only -0.1% & i assumed we may tank close to 1.5 to 2% today. But what turned out was a boring choppy day in a…
Quite an uneventful day today, bank nifty did not break the nearest support or resistance level which means the range bound trade continues. Open was inline wrt previous day’s close, but we started falling in the first 20mts. Nothing major and we had a quick reversal & bullish rally. From the LOD we went up…
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…
