None of the major indices were that volatile yesterday. After the weekend news/events from Russia — we were hoping to have some wild swings today. Quite opposite to the expectation, all the 3 major indices — Nifty50, BankNifty and NiftyIT was relatively stable & closed flat today. BankNifty BN opened gap up, but right at the opening itself we…
Even in spite of the recent greenish momentum, we were all looking for a bearish breakthrough. I cannot say with 100% confidence that we are on the verge for a timely correction — but the markets are quite indicating that way. Banknifty is again scoring over Nifty50 by staying more stable and swinging lesser. Today’s episode may…
Weekly Analysis of BankNifty Banknifty is up 259pts between 15th to 22nd June i.e. current expiry week. Interestingly, BN was looking at steeper cuts on 15th — the price action was pretty negative. Luckily that level is still sacrosanct and has formed an interim support as we had one more retest @ 20th June. Today’s Analysis The…
Yesterday I said, “ I will be a believer if we continue the green spell tomorrow also.” — guess what Finnifty hit all time high today at 19660.1 at 13.55. This is partly due to the news flow in HDFC & HDFCBK (both are having good weightage in finnifty). This is the main reason it outperformed with…
How many of you were prepared for the last 1 hour move today, I assume 90% of traders would have anticipated it. The real wow moment would be if we get to see the unwinding tomorrow. At least till the 43528 levels. We added 331pts between 14.25 to close today, most of which were due…
Nifty50 missed ATH by 6 points, the real reason was due to bank nifty — will explain it to you today. Banknifty made some strange price actions today. Nifty50 had a gap up opening and was roaring to break the ATH, banknifty on the other had had an inline opening and was stuck below the resistance. The…
Nifty was looking fully loaded to hit a new all time high today, it ended 23 pts short! Probably Nifty50 requires more postmortem than banknifty today, so let us start there! N50 started the day gap-up thanks to the +ve handout from SPX yesterday. Once it reached the resistance zone of 18762, it lost steam…
Today’s price action is very interesting mainly because banknifty proved the last 30mts of surge yesterday was fake banknifty won the tug-of-war with nifty50 at 15.00 today We will analyze both of them in detail. We had an unusual gap-up opening and then sudden fall of 220pts ~ 0.5% in 20 minutes. Banknifty went below…
Another day went by where the last 1 hr changed the sentiment of the day. Banknifty rallied 188pts ~ 0.43% from the LOD to the HOD all in 65 mts 14.20 to 15.25. Till that point the view was bearish and open for shorting opportunities. Just check the encircled area, banknifty was struggling to go…
Quite an unexpected performance by NiftyIT today up +1.51% which would have spoiled the party for the Nifty50 bears. Last week as it ended was looking pretty negative for Nifty and flattish for BankNifty. Banknifty had a steady day today, down only 0.1% but the prices were consistently falling giving the impression that selling is…
