We opened today without a handover from US as it was Thanks giving holiday for them on 24th Nov. Bank nifty opened at 43192 just in line with the last hour trend that started yesterday. And went to a new all time high of 43339 at 09.30. This 5mts candle had a long top wick…
Bank nifty broke out and made an all time high of 43163 today. The opening was at 42838 negating yesterday’s fake price move from 15.00 to close. Notice how yesterday’s rally continued with the yellow encircled region. Today’s open and forenoon trade was in perfect alignment with the rally that started yesterday. Since its a…
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…
Banknifty made some contradicting moves today with respect to the moves in Nifty50. Nifty50 is showing an interim top formation on 15mts, 1hr chart but BankNifty is not showing signs of cooling down — every selling move is getting arrested. Lets analyze today — BN opened at 42286 a gap down wrt last session and then made a green…
Bank nifty opened at 42545 quite midway between yesterday’s swing high and swing low and then created a red bearish 5mts candle. There was an attempt to take out the highs of the 1st candle over the next 7 candles — but it was unsuccessful. Then we had a good drop from 09.50 to 11.10 a fall…
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…
A very good trading day today, bank nifty opened in line at 42371 made a long legged doji in the 1st candle and then made 7 consecutive candles with 100pts swings in each before deciding on the direction. We had a up day today with a decent run from 09.50 to 11.30 and then a…
The rally that had to come yesterday, came in today. Remember i had a bullish call for 14th Nov — but it didnt work out — read here Bank nifty opened at 42234 right at the swing high of yesterday’s session negating the price action from 14.10 to close yesterday. The first 3 candles showed bearishness and a small…
I am not worried with bank nifty moving up like that — but on a day where the global cues were very negative — quite impossible. Bank nifty moved today quite contradictory to the global moves. Frankly what is happening to India’s banks — is there so much positivity to bury the global macros ? S&P500 down 2.5&, Nasdaq100 down 3.39% and…
If the interest rates increase its good for the banks & they could rally, but its sentiment negative for all the borrowers. S&P500 and Nifty50 could react differently too as the US market has lower weightage on financials compared to India. Glad yesterday’s short call worked on bank nifty — read here. The price action formed today is…
