Pretty unconvincing price action by bank nifty today morning esp after US markets SPX fell 0.76%, DOW 0.76% and NDQ -1% overnight. This is in addition to the fall on 18th. SPX has now fallen consecutively for 3 days from the resistance level of 3991 & now 3945. We hit the resistance of 42573 in…
Honestly was expecting a turbulent and volatile expiry day today after SPX fell 1.56% & DOW 1.81% overnight. I was quite shocked to see the bank nifty pre-open rate of only -0.1% & i assumed we may tank close to 1.5 to 2% today. But what turned out was a boring choppy day in a…
Lets go by the crowd’s mindset — What would you have done today morning just after the pre-open wherein bank nifty indicated a gap up opening & HDFCBk (most weighted component) had a superb results QoQ. Ans: You would have gone long today — right? And thats where the smart money would have trapped you. Gap up opening at…
The bullish bounce that was overdue is done today, remember we had discussed over last 2 sessions that the option premium data is showing a short term bullish stance. So it was just an ultra short term target, we also discussed it might be the counter move to the finnifty expiry tuesday. Bank nifty’s today’s…
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…
Bank nifty fell 1.33% ~ 568 pts today, but the option prices were behaving like we had a 5% fall intraday. Yeah the intensity of the fall was quite strong, but the level in which options premium jumped — its quite hard to believe. What i feel is the Finnifty expiry on tuesday is creating unwanted speculation…
If you go by the levels US markets closed on Friday — SPX 2.28%, NDQ 2.78% we should have started much more strongly today. Bank nifty opened 42404 up 0.44% only and then closed the gap within the first 15mts. The buying momentum was surging in NiftyIT index and Nifty50 which prompted buying in bank stocks as…
Take a look at the chart below, 5mts TF its a perfect continuation from yesterday — we broke the 1st support at 09.40 and 2nd support at 13.15 in the single leg. And then we had a retracement back to the SR level (yellow dotted lines) and final close there. So what do we infer from the…
I dont know why the bank nifty didnt fall today, the science seemed so solid — if i were to borrow King Julian’s words from Madagascar. The handover from US market was negative as expected and today’s opening was a gap down at 42684. The first candle was red went down to the support level of 42573….
Quite an unexpected turn of events. On 23rd Dec we thought there could be a slight option for a short covering rally — read here — but i never thought the short covering will turn into a bear rally breaker. 2.31% intraday rally on a weak market — quite impossible to comprehend. BN started the day at the support level and…
