Nifty Analysis — Stance Bullish ⬆️ Recap from yesterday: “We are maintaining our bullish stance for tomorrow as well, but we are not expecting 22600 to be broken tomorrow.” 4mts chart It was another perfect day for the option sellers, mostly the short straddlers. Nifty struck a narrow range today and had no special adventures. Looking at…
Nifty Analysis Recap from yesterday: “Since we are back at the 19310 levels, my point is — the next fall may be as deep as 18880 i.e 430pts ~ 2%. Nifty has no experience trading between these 2 zones earlier, so the supports should be equally powerless. I can mark the top of the candles as support…
We will start with the weekly analysis first, that is what happened in the series 7th to 13th April. The revised format is to provide an executive summary per week. This will benefit you for further research. Since 7th April was holiday, I have taken the closing price of 6th April as starting point. We…
Once again the perfect day for the straddlers, open & close almost at the same level ! But for every other trader, it was a tough day to plan. Gap up opening & hitting the resistance by 09.45. The 30mts of move would have changed everyone bias to the long side. That was 1% ~ 429pts…
If we look at the 5mts chart of bank nifty, apart from the opening 30mts of volatility — we had a smooth day of trade today. Inline open at 42071 and dip below the support level by 09.20, the next candle perfectly closed below the SR and might have indicated further pain ahead. The option premiums even…
Banknifty has made an unique price action today — again the day belonged to the bulls. Their never ending optimism is driving the valuations crazy. BN opened gap up at 42467 made 2 red candles instantly and came back to yesterdays close price. From there it traded with a slight upward bias and gaining steam last 40mts….
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…
Bank nifty opened at 39337 gap down right at the support level of 39330, made a small dip but held above this line throughout the day. At 12.15 and 13.40 BN tried to fill the gap but failed. Today’s trade was in a short range if you look at the open and close. But the…
