After yesterday’s rally, today we had a consolidation which can be taken positively. But the real test comes tomorrow as today’s stock action in US markets will show its true color (red mostly) on wednesday 28th Dec. This is largely because we had an unexpected 2.3% spike yesterday and major markets were on holiday And…
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…
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…
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…
Banknifty has made an unique price action today — again the day belonged to the bulls. Their never ending optimism is driving the valuations crazy. BN opened gap up at 42467 made 2 red candles instantly and came back to yesterdays close price. From there it traded with a slight upward bias and gaining steam last 40mts….
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…
The rally that had to come yesterday, came in today. Remember i had a bullish call for 14th Nov — but it didnt work out — read here Bank nifty opened at 42234 right at the swing high of yesterday’s session negating the price action from 14.10 to close yesterday. The first 3 candles showed bearishness and a small…
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…
Quite glad yesterday’s shorting idea worked — read here. But not that glad the last 2 hour recovery really messed with my analysis. Bank nifty opened gap down at 41462 (right at the support line of 41459). BN tried to close the gap in the first 5mts itself but didnt have enough momentum. Yesterday we had analyzed…
