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…
Today’s price moves are quite interesting — Nifty50 ends the day with a loss of -0.61%, NiftyIT flash crashes at -3.14% but our hero Banknifty ends the day green +36.6pts. Such is the brute strength of the Banknifty bulls — really intense. BN opens gap up at 43765 new ATH and then hits intraday high of 43853 by 10.05….
What a rally today ! Contrary to the chart pattern which indicated the market may fall — the news event took priority & changed the sentiment all over. Bank nifty opened inline at 43142 made an indecisive 5mts candle and from the next candle onwards the rally started. The resistance was taken out at 09.40 and then there…
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…
Bank nifty opened gap up right at the resistance level and then made a quick drop to close the gap. Remember i was bearish on 2nd Dec Friday — and i expected the market to go further lower. It did go lower till 09.55 — but the series of price moves after that really surprised me. Bank nifty kept…
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…
The frustration i had trading yesterday was a blessing for today, its because technically i felt bank nifty is showing bearishness and was looking out for bearish opportunities. The last 30mts rally on 30th Nov changed my opinion. Its not that i became bullish, but that i decided not to have a bias. Bank nifty…
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…
