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…
Yesterday we discussed the possibilities that the Finnifty expiry would have interfered with the BankNifty’s natural price flow. It was almost proved right today ! Bank nifty opened gap down at 40494 well below the resistance zone of 40700. From there it was an unidirectional fall till almost 14.15. A total fall of 1.95% ~ 794pts…
The support that showed strength on 17th gave away today. Even the 2nd support also looked vulnerable today. All this on a day where US markets are on a holiday! Most of the traders would have felt bank nifty is going up today especially when the open was in the green 41221 & first 1hr…
So today’s price action confirms the move that we had yesterday was not fake. How many traders & investors would have been trapped on the long side when the 41629 resistance broke out? The prevailing trend was bearish, but when an important resistance gave away, it would have prompted lot of buyers into action. And…
What good was done yesterday is undone today, we had a resistance rejection as well as the support breach — bank nifty below 41624 again ! Most of them would have guessed it right that bank nifty wont break out from the 41940 resistance zone. But very few would have guessed that we will have a breakdown of…
We had that resistance breakout today, a much awaited 41624 break. This makes the coming days exciting — most importantly tomorrow’s expiry Bank nifty opened inline at 41674 and made a series of red candles till 09.40, a fall of 0.52% and crucial 41624 SR rejection. From there it made steady gains to take out the SR…
We had a dramatic performance by Banknifty today even after a higher than expected inflation of 6.52%. Although we had 2 sharp moves, none of the support or resistance was broken — which means we still have no clue on the direction. Bank nifty opened at 41410 made a low at 9.47 just 0.51% ~ 212pts drop….
I was running out of content last week to write about, thank god we had some interesting price move today — hoping to see further action in this week. Mostly due to the above expected retail inflation surge of 6.52%. Bank nifty’s fall today was not due to the above expected CPI — i can say this with assurance…
Looking at the opening 30 minutes i seriously thought today’s price action is really going to be awesome. I was fully loaded with a 41000:40900 debit ratio that would have made a lot of money if bank nifty crossed the 40900 barrier. And for a moment i seriously thought we will have deeper cuts, but…
A kind of boring price action today, except for the opening 30mts we literally had a cool & relaxing day today. Bank nifty opened inline at 41530 made some up downs for 5 consecutive candles showing indecisiveness & lack of direction. But i was still fearful to deploy short straddle or iron fly thats because…
