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…
Bank nifty opened gap up at 40252 much above the resistance level of 40154. The first candle was bearish, so was the price action till 09.35. But the support level of 40154 held quite strong and there was an immediate bounce. The green candle at 09.40 almost took back the bearishness of the preceding 3…
SPX and NDQ had risen 2.6% & 2.3% overnight in spite of worse CPI inflation data. Look at the chart below. There was a rally of 5.4% from the intraday low — this isnt a crypto, pennystock or shitcoin — its the world’s most tracked & liquid index — S&P500 When the global markets fall, Indian markets will rise. And when…
Bank nifty opened a bit gap down at 38957 and till 09.50 it was failing to close the gap or trade higher. Remember yesterday we discussed that the top made on 12th did not break the swing high of 11th — read here. It proved that the final hour of yesterday’s close was basically short covering and…
Bank nifty made some interesting price action today. It opened at 38784 above the support line of 38698 went down all the way to 38606 and closed the first candle above this support. Well that was the low for the entire day — the support level was tested once more between 10.45 to 11.10 after which BN…
SPX fell 2.8% & NDQ 3.88% on friday and the handout to us today morning was not that positive. As expected bank nifty opened gap down 38461 below the support level of 38698. The first candle was bearish, closed down & may have indicated that the rest of the day will be negative. But what…
Bank nifty opened 39343 right at the resistance line made a long wick 5mts 1st candle. The 2nd candle broke the SR line. At 09.40 after seeing the red candle i assumed BN will trade lower and exited the 39500 iron fly at the cost price. I was not expecting BN to go up and…
Banknifty opened gap up right at the resistance level 38700, remember the last day it closed right at the support level. This gap up opening took out the resistance level in the first candle itself and there was no looking back. Never in the day today BN tried to close down the gap or even…
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…
