Nifty Weekly Analysis Between the last expiry day and today, Nifty has managed to rise 152pts ~ 0.78% which is a good sign for the bulls. This flattish phase was much required after Nifty picked up a direction from 21st July. The technical analysis points to a trend continuation possibility and should be good for…
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….
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…
I am not worried with bank nifty moving up like that — but on a day where the global cues were very negative — quite impossible. Bank nifty moved today quite contradictory to the global moves. Frankly what is happening to India’s banks — is there so much positivity to bury the global macros ? S&P500 down 2.5&, Nasdaq100 down 3.39% and…
Quite surprised by the bottom wicks getting created between 13.30 to 14.59 — never have i seen this before… Bank nifty opened gap up at 41265 rallied above the resistance line and closed the first 5mts candle in red. The length of the candle was quite long — indicating the amount of trades taken place to settle the price…
A little about me. I understood the stock markets practically first and then I learned the theoretical part. Usually, people do it the other way around — but for me, I did not have the option to learn the theory first as I had the fire in me to get the trades going. And when I got…
Bank nifty opened at 38811 just above the resistance line marked for yesterday. It tried to rally but was short lived. From 9.15 to 9.30 due to the upward move the CE options near ATM surged pretty heavily. This may be because the call writers would have got nervous and exited the short position fearing…
Bank nifty opened (40685) right at the support level (40689) made an aggressive move down to 40509 which happened to be the swing low of last working day. For a moment i thought bank nifty is breaking down — but it didnt & the support held quite strong. The 4th candle was a pretty strong one and…
