Bank nifty lost over 1.75% today of which ~ 1% was lost in the gap down open itself. The open was at 41951 pretty near to our support line 41940. The first candle showed positivity & i thought maybe bank nifty will hold the level. By the 2nd candle it had fell back to the…
Bank nifty opened today 42864 just below the resistance level of 42888 and the intention to go lower was very clear. By the 3rd candle the support level of 42574 was tested and by 09.35 we had a first break down. The candle at 09.45 was pretty strong green and may have deceived many like…
We had a totally opposite day from yesterday in terms of volatility. First a mega swing downwards and then a beautiful recovery to close at HOD Bank nifty opened gap down at 43152 much lower than the support region at 43247. The first candle itself it scaled back to this SR region. And in the 2nd…
The inability of BankNifty bears to take out the support 43253 should be viewed as a good sign. We did discuss about this in the last article — read here Today’s price action was nothing special, a small range bound trade today. Opened at 43346 and then rallied down, the first candle itself closed right at the…
Had a real eventful expiry today, with almost a 500+ pts fall from 14.20 to close. Yesterday we discussed about a roof like pattern formed intraday — read here. And today’s price move was in continuation of that trend. Yesterday the handover from US markets were not that positive — but even in bad times our markets has outperformed…
On Friday 25th, I had a bearish call for Bank nifty — read here. Did it work out as expected — ABSOLUTELY NO ! Refer the chart below, bank nifty opened gap down at 42757 and for a moment i thought its all going as per the plan. But the first candle itself was pretty strong and by 09.30 BN…
Bank nifty opened at 42545 quite midway between yesterday’s swing high and swing low and then created a red bearish 5mts candle. There was an attempt to take out the highs of the 1st candle over the next 7 candles — but it was unsuccessful. Then we had a good drop from 09.50 to 11.10 a fall…
I had given a long call on Friday, 11th Nov looking at the intraday chart pattern. It turned out wrong & would have been a disappointment to those who follow my analysis. Bank nifty opened at 42177 in line with the chart pattern as of 11th Nov and did not really go anywhere. BN traded…
What a spirited performance by bank nifty today! Mega gap up opening at 42163 breaking the all time highs and a perfectly strong buy day today. The attempt to close the gap was short-lived when BN took support at 41929 (The swing high of the last few sessions). This was quite expected after the mega…
Bank nifty might have closed in the green today, but i am of the opinion that the price action formed today is negative. I would like to short bank nifty from here especially because its weekly expiry tomorrow. BN opened gap up at 41914 made a strong red candle — keep in mind this is the all…
