Get started

AXISBANK

NIFTY BANKNIFTY and other sector analysis NSE:NIFTY NSE:BANKNIFTY NSE:CNXIT NSE:CNXMETAL NSE:CNXINFRA NSE:CNXMEDIA NSE:RELIANCE NSE:TCS NSE:MINDTREE NSE:KOTAKBANK NSE:AXISBANK Good to keep on the radar Always respect SL & position sizing ======================== Trade Secrets By Pratik ======================== Disclaimer SEBI UNREGISTERED This is our personal view and this analysis is only for educational purposes Please consult your advisor before investing or trading You are solely responsible for any decisions you take on basis of our research.
NSE:NIFTYLong
by Trade_Secrets_By_Pratik
PostMortem on BankNifty  09 NOV 2022 + Comparison with SPX 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 time high. Although the first candle was red - its not the base reason why i am short. In fact the price action till 14.25 was bullish. Only the last 1 hour price action made me bearish for this short term. From a fundamental perspective, bank nifty is at ATH, nifty50 is not - thats because the niftyIT index has some catch up to day. Globally none of the major indices are at their ATHs - most of them are down 10 to 25% from the FY22 highs. The first level of support is at 41459 which is quite far from the current levels. So any trigger of bad news or absence of good one can push BN to these support levels. There was a good momentum rally from 12.15 to 14.15 - this even took out the day's high. Most of the investors seem bullish - maybe they are right in the long term. But my job is to make trades looking at the price action. --- Of the major bank nifty components HDFCBk and ICICIBk closed in negative, the fall in ICICIBank was brutal esp the last 1 hour SBI & Kotak closed flattish - but the price action made in the last 1 hour was interesting IndusInd bank closed in positive but this was after a gradual fall from 10.30 peak. Axis bank closed in negative due to the selling in the last 1 hr. The last 5mts candle hit the intraday low --- The reason i am bearish for tomorrow is because of the volumes of call option written in the last 1 hour. If you check the volume chart for almost all the liquid contracts you can understand that clearly. Having said that shorting far OTM CE options would not have worked that well today, thats because the premiums were very low even while the index hit the all time highs. There was a spike in CE premiums at 13.50 5mts candle - from this point onwards the option writers have taken the short bet. I could be immensely wrong also - as any uptick will result in short covering and the index will scale back up. But as i always use to say, our job mandates that we should have a view and we make money if the view is correct. If our view is wrong, we should be able to exit with minimal loss. Ratio spread of PE option would have worked out after 14.30 ie sell 1 lot of 41500 PE and buy 2 lots of 41400 PE (unlimited gain, limited loss strategy) --- SPX500 and Bank nifty have a spread of 22.8% as of today. Lets watch the S&P500 closely today as the mid term elections would create volatility in the market. My support level is at 3737 and the nearest resistance is at 3813 for the 15mts chart --- 15mts chart looks bullish as the ATH is hit. Reiterating my bearish view is only for the immediate short term. 1hr chart also shows bullishness --- Bank nifty support & resistance levels s1: 41459, s2: 41314 r1: no resistance as near ATH --- PS: Read the standard disclaimer at: bit. ly/3Nm3RER
NSE:BANKNIFTYShort
by viswaram
Can we see some profit booking in Axis I know I know I know that price has formed a inverse head & shoulder and all -->But if we observe recent rally there is no profit booking and price is at major supply zone. --> We will get better RR ratio if we short here and if the plan works. -->So Idea here is Sell CMP @812-814 level -->SL - 820 level. Managing the trade: If the trade goes in our way *Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost *Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL. *Exit remaining with trailing Stop loss. *SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY. *NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES. --.If only price give closing above supply line then we can plan for longs.
NSE:AXISBANKShort
by Mo-Kri
2