Just a casual thought! Tomorrow bank nifty might try to adjust a little to give a scope to the buyers who are confused what to do! Like me! The June future trading will not be easy for tiny retailers. One way good, through margin restriction. I think market players and big bosses are calculating tonight about extent of adjustment for couple of days considering that aspect.
@Pranabkolkatay, Bank Nifty has decisively filled the gap between 5th and 2nd Feb and is now going to attempt to fill the gap between 1st and 2nd Feb. However, it has also formed a double top on daily charts and there may be profit booking. We'll have to search for an opportunity tomorrow - I guess after 12:30pm - and trade accordingly.
@fcsa, Personally I will not get any opportunity to trade tomorrow. Visiting a company in morning to late evening and travelling between Bangalore, Pune Kolkata. Market gives us opportunity and you rightly told and also that is my expectation that couple of days may be adjustment days. Let big bosses give us the corner to play. We must be happy with happy with small as we are tiny.
@Pranabkolkatay, I was astonished by the movement in HDFC Bank which you talked about yesterday. How did you come to that conclusion? I don't track HDFC Bank of late, but even if I had I would not think that it would gap up the way it did...
@JayeshThakkar, These levels are neutral as to opinion. They are just a series of support and resistance zones which I am developing as part of my data analytics experiments. What do I think? I think there is absolutely no reason for Nifty and Bank Nifty to rise the way they have. The economy and banks are in a huge mess. But I am a technical trader. If there is opportunity to go long then I will go long and the other way around. Its a good idea to check where the next day's opening starts and then decide after having studies the daily and weekly trends before hand.