I almost believed in everything that happened today, but not after 15.00. The spike seen on the 15.00 5mts candle reminded me of some cryptos that trade out there. Even Nifty50 had that unusual surge. I was monitoring all 8 nifty50 stocks — and could not believe a bit of it. It may been due to the…
I am sure most of the traders would be surprised with the kind of bullish price action we saw after 10am. Since SPX closed -1.58%, NDQ -1.89% yesterday — most of them including me expected Nifty50 and banknifty to close in deep red today. The gap down opening at 42559 was perfectly at the support level and…
By 09.15 around 90% of traders would have guessed how banknifty is going to trade today. Thats because ICICI bank had an excellent quarterly results to boast for. The predictability of banknifty is, one leading bank is enough to pull up the sentiment of others. Same on the downside as well. Opening was gap up…
Weekly Analysis Banknifty has gained 0.29% ~ 123pts from the last Thursday to today. Except for the 1st hourly strong candle on 17th, the rest of the trading was range bound with a slight positive bias. The range banknifty traded in (max swings) indicated below. It just had a maximum swing of 1.28% and this…
Banknifty had a narrow range based trade today with a minor negative bias. Yesterday’s swing low was breached by 13.40, but it does not pose a major scare yet! The pattern may look bearish on the 5mts TF, but it actually isnt. Banknifty is comparatively outperforming the Nifty50 and NiftyIT index for the last 3…
One thing I noticed this week is the variance in volatility of Nifty50 vs BankNifty. On 99 out of 100 trading days — Banknifty used to have a higher volatility than Nifty & you know what higher volatility brings to the options trading. Yes — option premium anomaly. Probably this variance was there earlier too, since I trade on…
Banknifty really held its cool today! During preopen INFY was showing an open rate of -10%, and everybody would have thought we are going to see a massive sell off today. IT sector in total was in focus today as the INFY even though had not so bad results was quoting at 10% lower circuit….
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…
Banknifty had a mega pre-open boost by Kotak Bank, it was up 5% by 09.10 which indicated the bears will get their bones crushed today. Contrary to the popular belief, Kotak bank has the 3rd most weightage to bank nifty above SBIN and AXIS even though kotak has lower net interest income. And today’s 5%…
I am making some changes in the chart layout from today’s report. It will be in white background going forward. This is after the feedback I got from the kindle publishing team that images with dark layout will look awkward when made into paperback. note: I will still continue to use the dark-mode chart for…
