Nifty Analysis The day started with a gap up at a 50% level between the high & low of the last session. From there we saw 2 to 3 candles of fall, but nothing serious to retest yesterday’s swing low. From 09.35 to 10.40 we had a good rally up to the 61.8% retracement levels….
We had a relatively calm day today comparing to what was happening last 2 to 3 sessions. Since we had the FinNifty expiry today — there was some stability offered by HDFC, HDFCbk & BajFinance. This really prevented bank nifty making further lows for the day today because at 13.05 i almost thought we will be seeing…
Banknifty opened gap down at 38081 and in the first 5mts candle itself it took out the support line of 37946. There was an immediate bounce somehow giving us the impression that the support was intact, the minor pullback tried to close the gap but lost steam by 10.15. The fall from 10.20 to 10.45…
When the S&P does a relief rally for one day, our bank nifty thinks its a reversal and shoots up. Look at what happened today, BN opened gap up at 41304 up 400+ pts and then takes out the resistance in the first candle itself. Look at the strength today, the resistance level was never…
Bank nifty opened gap up at 40520, note this gap up is above the topmost support line at 40149. There is no resistance level and as per technical analysts the least friction for the market is to move up. The opening 75mts of trade was much similar to that theory, at a point in time…
