Get started

Expiryday

18 Apr Nifty –13.23 Candle wipes out the entire April ProfitsNifty Analysis - Stance Bearish⬇️ Recap from yesterday: "For bearish continuation, we need to take out the 22051, whereas for Neutral stance shift, we need to take out 22295." We did take out the 22051 support today on the 4mts TF but not before some drama. Initially Nifty was showing strong upside potential knocking the 22295 resistance level. By 12.15, I almost thought we might have to go neutral and kiss good bye to the new Bears. Fortunately, the 22295 resistance held its ground and proved a safe level for the Bears. Coming to the main event of the day - see the encircled portion. The 13.23 and 13.27 candles. Nifty fell 213 points in 8 minutes (might be a new record). And since we had an expiry today, what it actually did was mess up the premiums of straddles. I lost 1.38L in Nifty today due to this misadventure. By 14.55 we lost the 22051 support and N50 went on to test 21961. The next major support comes at 21913. On the higher TF, we wish to maintain the bearish stance even though we did not get a 63mts closing candle below 22051. I am hoping that we may get one in the forenoon session tomorrow. The last 3 candles were strong RED and the bodies fit right between the 22295 and 22051 SR zones. --- The losses in Algo trades were 1.38L, mostly due to slippages between 13.23 to 13.28. However smartly you set the programs, the orders will not fire as fast as the underlying moves. The delay is enough to get mispricings and slippages. Quite relieved to have saved close to 70k from the max loss value.
NSE:NIFTYShort
by viswaram
Momentum in Bank Nifty? Check Bank Nifty simple analysisTodays gap up opening gave hint of momentum and later or bank nifty proved with bullish momentum after 2 hours of bearish flow. 45600 is still a acting as major support for buyers holding it from falling. Also pushed Bank nifty to safer zone but still unable to beat 46000 resistance. Post Analysis Arc shape recovery in BN gives a clear hint of bullishness in bank nifty but still tomorrow opening will be deciding factor for confirmation. To be strong on bullish side still 46000 need to beat by bank nifty. On bearish side sellers tried multiple times to break support of 45600 which makes it weaker to break. Also its trading below trend line. Support : 45600,45300,45000 Resistance : 46000,46300,46600 Note : Do your own analysis before making any trade or investment decesion.
NSE:BANKNIFTY
by Price_actiontaker14
Bank Nifty Expiry Trade Analysis! As mentioned earlier post that might be today will be trend day or same tight sideways and it happend market didn't moved to new direction. market players want to stop out as many players as possible before a breakout it started with morning flase break out then all went in a range Bulls are facing strong resistance as they failed twice to break 45600 level and got weaker in later sessions If open below 45200 then sellers will be strong Resistance : 45600,45700 Support : 45200,44900
NSE:BANKNIFTY
by Price_actiontaker14
19 Jan ’24 — Are you ready for the BANKEX expiry tomorrow?BankNifty Analysis - Stance Bearish ⬇️ The stance for BankNifty was bearish yesterday and it is still bearish today. The highs and lows of today were more or less matching with the levels of yesterday. Visually the price action is more negative than yesterday, the reason being the highs hit today were due to gap-up whereas yesterday’s high was via fighting it out during trading hours. 4mts chart From the highs to the lows today, there was a swing range of 688 points. Just that the gap-up hides this in plain sight, after all the index closed flat at -0.03%. The change in holiday schedule is going to impact BankNifty the most as BANKEX expiry which was on Monday will have to be conducted tomorrow. Quite sure the traders were not prepared for this event and the opening minutes could create some chaos. We are not even sure if the technical analysis will work out tomorrow. 63mts chart Look at the encircled region - all RED candles. How many analysts do you know who would say these many consecutive red candles are a bullish sign? None. Despite this, BankNifty could move up tomorrow as the news flow of holiday change was not priced in. BANKEX has a close correlation with BankNifty and logically traders would use the opening minutes to build expiry positions tomorrow. Since FIIs were not informed, they would come tomorrow unprepared. If there is sanity tomorrow and BankNifty starts moving downwards - the first level to watch out for is 45399. To go bullish - it has to climb 1765 points.
NSE:BANKNIFTYShort
by viswaram
01 Jan ’24 — Banks not happy with a "Happy New Year 2024"We have compiled the last 3 months of work into an Amazon Kindle ebook with the title “60 Post-Mortems on Nifty & BankNifty Q3 FY23-24” - request you to take a look and provide suggestions. BankNifty Analysis - Stance changed to Neutral BankNifty was not able to break away from the lower channel line. Normally BN swings from the lower boundary to the upper boundary and follows a good correlation with the ascending channel. The last 30mts of fall ensured we broke the lower trend line. Ideally, the stance had to change to bearish - but we ran out of time for a full 63mts candle to form. 4mts chart link - click here The fall was 408pts ~ 0.84% deep. The red candle that took out the channel trend line had a drop of 154pts. Both BankNifty and FinNifty were looking quite weak today - not sure of the reasons though. When NiftyIT turned and went into strong green - the banks also started lending support to Nifty50. And when the fall came, it was all banks. 63mts chart link - click here The last candle closed below the channel, but the body is still touching the trend line. Just because of this reason - we decided to go with a neutral stance instead of bearish. The opening hours tomorrow will give us more clues anyway. FinNifty has expiry tomorrow and the stakes will be quite high for the banks to perform.
NSE:BANKNIFTY
by viswaram
31 Aug ’23 Post Mortem on Nifty - Monthly, Weekly & Daily ExpiryNifty Monthly Analysis In the Aug monthly series, Nifty is down 387pts ~ 1.97%. This month did not produce a reversal signal even though there were 2 attempts on 24th & 30th respectively. As it stands Nifty is following a bearish trend channel quite efficiently. My next support comes at 18880, so if the fall were to accelerate in September, its good to know the next milestone. Nifty Weekly Analysis Between the last expiry and today, Nifty has fallen only 100pts ~ 0.52%. Not something unusual comparing the monthly fall. Interestingly we made an attempt to reverse the trend yesterday - but that got run by a truck today. Nifty Daily Analysis Today’s price action was a continuation of what we had yesterday. If you look at the chart below, it is tough even to make out the separator between yesterday and today. The reason for the fall today may be attributed to the allegations on Adani by Hindenburg along with the OCCRP, a firm funded by George Soros revealing data about a possible insider trading & manipulation. The data available on the public forum is pretty skewed and I personally dont have an opinion on it right now. But of all the rules set by SEBI, the insider trading case is the biggest manipulation that is possible. Once the investigation gets completed and if the claims still stand - it is going to put a real awkward image about India and Indian companies among the FIIs and HNIs. The fall that happened today was nothing in front of what could happen. On a headline level we just fell 0.48% today well within the average true range. But this fall of 93pts took out the hope of bulls to have a reversal. Not only we breached the support of 19310 today, we even took out the swing low of 25th Aug. From tomorrow if we stay as it is, then the horizontal support line of 19310 will no longer be required. All that stays back will be the bearish channel. I wish to change by stance to bearish for tomorrow unless the 19310 resistance is breached.
NSE:NIFTYShort
by viswaram
14 Aug ’23 Post Mortem on FinNifty - flavorless Expiry todayFinNifty Weekly Analysis We have fallen 2.31% ~ 464pts between the last expiry and today. This is definitely a good start for the bears. Unlike Nifty, Finnifty has managed to form a lower low on the 1hr TF. The first major support comes at 19421. FinNifty Today Analysis Due to HDFCBK’s weightage on Finnifty, we closed a 0.1% lower than banknifty today i.e at 0.3% ~ 66pts down.Chartwise today’s recovery was not as dramatic as Nifty50 and provides further room for bears to play. From an expiry perspective, the options premiums were not at all exciting even during the opening minutes. Since we had a good gap down, the expectation was that PE strikes would explode in premiums - but that did not happen. Guess the big-boys came prepared not to drive down the prices further. Retail traders like you and me were in the dark and had to guess the direction. Tomorrow will be a trading holiday as we are celebrating our 77th Independence Day - 15th Aug. This was the reason we had FinNifty expiry on Monday instead of Tuesday this week.
NSE:CNXFINANCEShort
by viswaram
1
Firefighting a Short Iron Condor Strategy on Nifty50 on Expiry DThis is a strategy you use when you feel the markets will not rise or fall below a predetermined level within the upcoming week. Approx 9 out of 10 times markets remain range bound and the other single time it breaks out or breaks down. This strategy is when you have a feeling that markets will remain range bound and will not break out or break down. We will be using Sensibull to analyze each of the strategies. If you have a zerodha demat account — their strategy builder tool is 100% free. We have created a short iron condor by placing a 4 legged option strategy. We have used the Nifty50 index that has a weekly expiry on 03 Aug 2023. The split up of the legs are · Buy 19350 PE for 13.65 · Sell 19500 PE for 37 · Sell 19800 CE for 39 · Buy 19950 CE for 13 Today is 28th July Friday and we have 4 more days to expiry ie. Monday 31st Jul, Tuesday 1st Aug, Wednesday 2nd Aug and Thursday 3rd Aug. The maximum profit you can get out of this trade is Rs2468 and the max loss is Rs5033. When you hold this trade till expiry, you can be 100% sure that your losses will never exceed Rs5033 — that is the first guarantee you can count on for fixed loss strategies. You will benefit if Nifty50 ends between 19451 and 19849 on 03 Aug 2023. Current price of Nifty50 is 19646. Which means we have 19646–19451 = 195pts protection downside and 19849–19646 = 203pts protection upside. To take this trade the capital required is Rs47194 which can be funded via cash in ledger or pledging Gsecs or GOI bonds. Mutual funds, stocks and ETF could be pledged as well, but brokers require 50% of all funds to come from cash or cash equivalent holdings. Firefighting Strategies on Iron Condor This is where the topic gets interesting. You are already aware by now that the max loss you need to defend is Rs5033 over the next 4 days but most importantly on 03 Aug expiry day. When to Fire fight? Firefighting is really required only if Nifty falls below 19451 or surge pasts 19849. Even if daily swings of this magnitude happens, its quite common for Nifty50 to revert to mean. So our firefighting strategies can be deployed for a short duration of few minutes or intraday. All the firefighting strategies has to deployed on EXPIRY DAY only i.e. every Thursday. I do not suggest or recommend to do it on any other day as the risks of not closing a fire-fighting trade may cause your capital to get wiped out. High Risk Firefighting The firefighting strategies require naked option buying or selling so its best recommended that you do it after studying the risks associated. Most importantly these tactics has to be done within the day and should not be taken overnight which may otherwise wipe out your capital. Most importantly these tactics has to be done within the day and should not be taken overnight which may otherwise wipe out your capital. I have intentionally repeated that sentence with bold so that it gets your undivided attention. How to Firefight? There are only 2 loss making possibilities here 1. Nifty50 is above our upper breakeven of 19849 2. Nifty50 is below our lower breakeven of 19451 Let us assume that Nifty is trading at 19400 now which means it is below our lower breakeven as per (2). From here Nifty50 has only 3 possibilities on 03 Aug Expiry Day a) Stays below 19451 b) Climbs back above 19451 but not cross 19849 c) Goes above 19849 Conditions (a) & © is unfavorable for us, whereas condition (b) is an ideal case for us. If condition (a) i.e. Nifty Stays below 19451 happens we have the freedom to sell CALL options above 20000 all the way till 21500 intraday. Image below shows the option chain of Nifty50 and the strikes highlighted in red are CALL options above 20000. If we select to short sell any of these strikes — there are only 2 possibilities that could happen 1. Nifty will scale back up the lower breakeven of 19459 — then these CALL options will appreciate in value and we will incur a loss if we hang on. The idea is that we got Nifty50 back above our lower breakeven so that it profits us — so it makes sense to exit the firefighting position. 2. Nifty closes below 19459 which means the CALL options we sold becomes worthless (ie goes to 0) and we pocket all the premiums paid Reiterating again that the firefighting has to be done only on expiry day where you have 100% visibility that the OTM CALL options are going to zero. On any day Nifty50 could make even a 0.5% move and drive up the options premium so high that you end up losing more. Similarly if Nifty50 is above 19849 we need to short sell PUTS below 19300 and grab those premiums to offset the max loss of Rs5033. How much premiums you should grab? The idea here is not to use the option selling strategy for income rather to cover your max loss. The max profits you can target should match the max losses you will hit in the original strategy. Also do not be adamant that you need to recover 100% of the losses, even if you are able to reclaim only 50% — it’s still a WIN. When to Exit the Short Selling Position? As soon as Nifty is back in the favorable range, we should prioritize exiting the short selling position as the fire is doused. If you hang on to the short selling position anymore — you may get barbequed/incinerated.
NSE:NIFTYEducation
by viswaram
Finnifty expiry special trade setup FinNifty Important intraday levels to watch for 18-07-2023 #Support: 20250 Short if candle closes below 20250 #resistance: 20450 Long if candle closes above 20450 or if 15 minutes candle closes above 20305 with a strict stoploss of 20440 for the target towards the supply zone. #Targets on downside after break of support. Target 1= 20150 Target 2= 20020 Target 3= 20900 #Targets on upside after break of resistance. Target 1= 20530 Target 2= 20586 As this is expiry no one should hold the loosing trade for longer time period and strictly trade with stoploss. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:CNXFINANCE
by InvestyourAsset
Fin NIfty Hero Zero Trade Setup || Expiry Day Special TradeMarket are very bullish now a days, today i was expecting a small bounce back that happen in nifty and banknifty. But Fin NIfty Roaring even more than other indian indices today. It has given successfully breakout of 20400 levels on chart in today's session. And now it is trading at 20500 levels. I think best entry for fIn nifty still remaining, best entry will be somewhere 20400-20435. Let's we will get best entry or not as Finance sector is very very bullish BAJAJ Twins has move more than 5% today, that is the main reason for this upmove in it. But definitely we will wait for our levels to come for best entry. For Hero Zero Trade you guy's have to just wait for sometime i will update around 1:15-!:30 Pm. But if still if anyone here kind of risky trader and wants to take long position can take in next expiry trade:- Trades Are:- buy Finnifty 20500 Ce at 164 now, Add more if you get somewhere 120-130 levels in it. keep stop loss at 75 and Target 190/235/275+ Disclaimer:- I Might be wrong in this analysis, so please always do your own analysis or consult with your financial advisor before taking any kind of trades. If anyone likes my work then definitely like my this idea and follow me for more updates and let me know your thoughts about this idea in comment box. Thankyou, Regards Rahul Pal
NSE:CNXFINANCELong
by TraderRahulPal
PostMortem on Nifty50 Today & Analysis of 27 JUN 2023Nifty opened right at the resistance zone of 18762 and then had a flattish pattern. Again the gap up would be due to front running by few players. Instead of falling to the previous close level - N50 held its ground and was aiming for resistance level breakout. The price action was not as dramatic as BN or Finnifty as the resistance breach came in very late in the day i.e. at 14.10. Once it broke out from this strong hold, it rallied another 68pts within 1hr. Today's price move has shifted the bias to +ve and it may also have enough firepower to take out the ATH by tomorrow. RELIANCE, ITC & other FMCG stocks did not participate in the rally today - so it seems like tomorrow is going to be an interesting bull side day. 1hr TF In yesterday's research report I had indicated N50 showing a bearish bias. Mainly because we had a support breach after what it looked like a M pattern aka double top. We have not completely negated that pattern, but the intensity with which N50 broke through the resistance - I will have to change my view. Technically N50 could push through the ATH by tomorrow as there is nothing resisting its way!
NSE:NIFTY
by viswaram
Expiry Special Analysis|Hero 0 Trade will be in 2nd half(FNIfty)Finance Nifty Analysis For today's Expiry 27/06/2023:- Finance Nifty also broken upwards support trendline in 1hr/30mints/15mints charts. This could be a fake breakdown, if it start trading above in channels above 19555 levels. Then definitely buying momentum will be back in it and this can go towards Target1 and target 2 which is (Mention in Chart) . Vice Versa if this is start trading below 19455 levels then definitely this was a perfect breakdown for Fin Nifty and a sharp move will be expected in it, which can take Fin Nifty More in lower range towards Target1 and Target2 even Target3 (Mention on charts) also till tomorrow. So buy above when 19555 sustains Sale below, when 19455 sustains. For target i have mentioned on chart. for buying Stop loss will be 19376. For selling Stop loss will be 19632. Note:- For Hero Zero Trade I will update this idea around 1-2pm, So c u guy's in 2nd Half. Till then Trade Carefully, And ty to trade in Next expiry as today time decay will eat all premium, if there will not be trending market. And Always use stop loss. If anyone likes my work then definitely like this idea and follow me for more updates and let me know your thoughts about this idea in comment box. Thankyou, Regards Rahul Pal Disclaimer:- Always do your own analysis or consult with your financial advisor before taking any kind of trades.
NSE:CNXFINANCE
by TraderRahulPal
11
PostMortem on BankNifty Today & Analysis of 13 JUN 2023 FinNiftyAnother day went by where the last 1 hr changed the sentiment of the day. Banknifty rallied 188pts ~ 0.43% from the LOD to the HOD all in 65 mts 14.20 to 15.25. Till that point the view was bearish and open for shorting opportunities. Just check the encircled area, banknifty was struggling to go past the resistance of 44068. The set up seemed almost perfect for a short-sell opportunity, it even had follow through when the 13.50 and 13.55 shaved off 114pts ~ 0.26%. Even the BN options data was showing weakness ahead. But Nifty50 had other plans, you would have noticed how strong it was even in the morning session. And it was not due to NiftyIT's support alone, RELIANCE, ASIANPAINT, ITC, HUL were all amassing gains. The option data for nifty was showing bullishness - the mistake I did was to anticipate nifty to fall once banknifty started its descent.  In fact the real opposite happened, Nifty50 pulled banknifty up, helped it cross the resistance with ease. My decision to go short was taken in a hurry to capitalize on the Finnifty expiry - but what it did was to take out the stop loss. Technically today banknifty and finnifty crossed the resistance whereas nifty50 has few more points to go i.e. till 18762. To an extent the last hour rally would have been due to the positive expectancy from US CPI data. Moreover SPX is at a 52wk high (not at all time high though). --- 15mts chart of BN still shows its trading in a range. Was expecting the lower end to break down today, but that did not happen. --- 1hr TF is also continuing in the same range. The upper band is at ATH levels - crossing that would mean a breakout trade and for that to happen banknifty would have to build lot of momentum. --- Finnifty Expiry Special Finnifty had a chart similar to banknifty. 19421 was the crucial SR zone for today, earlier in the day the trading was happening above this level. Between 13.50 to 13.55 there was a sudden fall back to the SR level. Again I assumed it will break this level and fall below the recent swing low. What actually happened was a rocket-style surge 90pts ~ 0.47% to ensure finnifty closed at the high of the day. From an expiry perspective, the options premiums were decent enough and had adequate juice till 14.00. 19450 CE which closed in the money would have been a jackpot strike if the buyer got in at Rs6 to Rs7 levels as it went up 3x.
NSE:BANKNIFTY
by viswaram
PostMortem on BankNifty Today & Analysis of 06 JUN 2023 FinniftyIt is happening everyday, even today. Banknifty went up 198pts in 25mts between 14.45 to 15.10, again a closing hour move! The last 1 hour moves in index is not something new now, I am still guessing many traders would have anticipated a directional move today! If we look the chart, the scope for that move was not there. What happened during the earlier part of the day is continuation of price drop from yesterday 14.00 (The blue drawn highlighted line). We made a low of the day, leg1 at 11.20 today and then bounced to an interim high by 13.45. Ideally I was expecting the leg2 to happen to take banknifty further lower than 43960 levels. What really happened was vertical shoot, that even helped banknifty close in green today. Again we had a climb back after a support break of 44068. Were you expecting the last 1 hr move today - do let me know in comments or as email. --- 15mts TF has no special bias as of now, the downside is getting prevented while the upside doesnt seem possible with this faint momentum. --- 1hr TF bias is still bullish, today's 14.15 green candle stays well lit instantly negating all the price action from 11.15 yesterday. --- Nifty50 requires special mention today, that is because NiftyIT was bleeding 2%, in spite of that the last 30mts of momentum helped it close in green. That is some achievement, instead of other stocks falling along with NiftyIT most of them counter balanced the drop and helped Nifty50 keep its shape. That is not something we see usually. --- Finnifty Expiry Finnifty has shed 0.6% ~ 117pts between the last expiry and today. This index is consolidating at its high, a brief fall might even give it momentum for further scaling up, but definitely no major moves are expected until the RBI MPC meeting outcome on 8th June Again an unbelievable price boost from 14.45 on finnifty. All through the day, I was looking for bearish set up once finnifty broke the 19421 SR levels. Waiting for the setup nearly eroded all the PE expiry premiums. Even from a random betting perspective, I did not have any interest in bullish side setups. I might have taken a trade if the CE premiums were attractive, but that too did not help! Also the killer move that came late in the day did not move that many needles as well.  --- With the news breaking out that NSE will be shifting the banknifty expiries to Fridays will come as a blessing to many option traders. People like me have been praying to have Nifty50 and BankNifty expiries on different days. Now that prayer is answered, traders can reuse margin & maximize their earning potential. This news also comes as a shock to BSE who had scheduled their SENSEX and BANKEX expiries on Fridays. Atleast to start with, sensex+bankex will not match the banknifty volumes, open interest or liquidity. As you all know more professional traders prefer banknifty over nifty50, splitting it on separate days will multiply the traded volume as well!
NSE:BANKNIFTY
by viswaram
PostMortem on BankNifty Today & Analysis of 18 APR 2023One thing I noticed this week is the variance in volatility of Nifty50 vs BankNifty. On 99 out of 100 trading days - Banknifty used to have a higher volatility than Nifty & you know what higher volatility brings to the options trading. Yes - option premium anomaly. Probably this variance was there earlier too, since I trade on BankNifty all the time - I rarely check the Nifty50 and FinNifty option premiums. But from the begining of April series - the option premiums were unusually low. I suspected it could be due to the high number of holidays this month. The reality was something different, NSE:BANKNIFTY was trading in a stable manner and the choppiness was visible in Nifty - this uncertainty made Nifty50 more susceptible to unusual option premiums. Banknifty stayed in a range today, the price moves from open to 13.05 was perfectly inline with the trend that was set from the last 3 sessions. Let me zoom out and highlight it. See the blue line, its almost a perfect straight line, the price action after 13.10 caused a blip. A fall of 387pts from the HOD to the LOD.  And why I said bank nifty was showing more signs of stability, this fall got arrested and the final closing was flat with a greenish tint. Whereas NSE:NIFTY showed weakness today also, not because of the IT sector (In fact IT was up 0.59%).  --- 15mts shows no major weakness so far. The chart is still bullish. As long as 41624 is still intact - the chart will not reverse direction. --- 1hr also is looking decently good, Just the 13.15 candle stands out from the trade today. If NSE:NIFTY shows further weakness ahead - I am not quite sure how long NSE:BANKNIFTY can stay in green. --- Just like we started discussing Finnifty Expiry from the last week - lets do it every Tuesdays henceforth. I took the expiry trades today & once the HDFC- NSE:HDFCBANK merger completes - it will be really exciting to trade NSE:CNXFINANCE because the top 4 weightage providing stocks will be the same. So we can take part in 2 expiry days in the same week. This is a blessing for anyone who is actively following the financial sector & banks in India. NSE:CNXFINANCE stayed in the range from the open to 13.25 today. The breakdown from the range came at 13.30, but anyone who looked at the red candles would have taken the trade in the short side. This fall also did not last that long, the LOD was at 13.45 and we closed more or less near the lows. The anomaly came in when the banks were doing good, but the HDFC & BAJFINANCE, BAJFINSV were pulling the index down. Thats why we had a flat day for NSE:BANKNIFTY vs red day for Finnifty. FinNifty support is at 18722 which is where it took support today. Yesterday also the first hourly candle took support at this same level. If this breaks the next support comes at 18458.
NSE:BANKNIFTY
by viswaram
Finnifty on make or break level Finnifty has formed a strong bullish engulfing pattern and appears poised to breach a trendline resistance. If the current bullish momentum persists, there may be significant short covering, leading to a potential price target of 18930. However, it should be noted that a bearish stance may be warranted should Finnifty fall below 18820, depending on evolving market conditions. It might go sideways as well. I'll suggest to scalp today; watchout before entering have a strict SL.
NSE:CNXFINANCELong
by Doinel33
PostMortem on BankNifty Today & Analysis of 11 APR 2023 Banknifty had a mega pre-open boost by NSE:KOTAKBANK , it was up 5% by 09.10 which indicated the bears will get their bones crushed today. Contrary to the popular belief, Kotak bank has the 3rd most weightage to bank nifty above SBIN and NSE:AXISBANK even though kotak has lower net interest income. And today's 5% gap up due to the MSCI news spelled real trouble. Bank nifty opened gap up at 41232 and had a massive 1st 5mts candle. There was a price swing of 297pts in the opening 5mts. What it created was a break away gap negating the downward sloping pattern from 6th. The jump in volumes also proved we had a sentiment shift too. Was the MSCI news a big trigger - I do not think so, but it really helped the bulls breakout from the bearish grip. Also it would have spoiled few CE seller's Finnifty expiry. There was also a healthy rally to take out the resistance at 41311, NSE:ICICIBANK , NSE:SBIN all helped to close bank nifty with a lead of 531pts. --- 15mts is showing the break out quite decently. And this is formed above the channel top line which will give it good momentum. Yesterday we discussed the possibility that the bears may want to take control and bring NSE:BANKNIFTY to the range - well, that is not going to happen very soon. The last time we had a breakaway ie on 31 Mar 2023, the volume spiked. Today also the volume was considerably higher than usual. And also note, the stock market is heavily skewed in favor of bulls. Everybody like to make money and push prices up. Only few people like me prefer to find contrarian trends - mostly on the bearish side. --- 1hr is showing the trend channel breakout quite clearly. See the break away from the purple downward sloping line. Till yesterday we had a hope to get trades below 40700 levels and stay in the bearish medium-term trend. The only hope for bears now is to watch out for the US CPI data tomorrow. A massive sell off could bring back NSE:BANKNIFTY back to realistic levels of 40700 or lower. --- I will also be covering Finnifty charts on Tuesdays wherein we have the weekly expiry NSE:CNXFINANCE has a similar chart to bank nifty, that makes it quite interesting to take expiry trades just as we do on Thursdays. The W pattern indicated in blue highlight was formed in the same similar fashion. Today's trade happened above the recent swing high ie from 06 Mar 2023, this again is a breakout style of trade. Just as when NSE:BANKNIFTY falls below the 40700 levels, we can expect finnifty to fall below the 18246 SR zone and continue its range trade. But if that does not happen soon, then the only way we can look is to handle the bullish momentum.
NSE:BANKNIFTY
by viswaram
Nifty intraday levels for 05.01.2023Resistance level:18132.35 Support level : 17951.80 ****Fib Retracement levels will act as the support or resistance**** If candles are sustaining or break above resistance level , we can expect upside move and the targets will be fib retracement levels as per chart If candles are sustaining between resistance and support levels, consider as neutral If candles are consolidating in buy zone or sell zone, wait for the breakout If candles are sustaining or break below support level , we can expect downside move and the targets will be fib retracement levels as per chart. If gap up or gap down opening, fib retracement levels will act as the support or resistance *** For quick scalping use 5-minute time frame***** Note: Pls check my previous day ideas for back testing & better understanding Please let me know in comment section if you have any queries and like the idea If you agree with the analysis. Disclaimer: Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research
NSE:NIFTY
by AATHIE
Nifty intraday levels for 29.12.2022 monthly -Expiry Resistance level:18173.80 Support level : 18114.95 ****Fib Retracement levels will act as the support or resistance**** If candles are sustaining or break above resistance level , we can expect upside move and the targets will be fib retracement levels as per chart If candles are sustaining between resistance and support levels, consider as neutral If candles are consolidating in buy zone or sell zone, wait for the breakout If candles are sustaining or break below support level , we can expect downside move and the targets will be fib retracement levels as per chart. If gap up or gap down opening, fib retracement levels will act as the support or resistance *** For quick scalping use 5-minute time frame***** Note: Pls check my previous day ideas for back testing & better understanding Please let me know in comment section if you have any queries and like the idea If you agree with the analysis. Disclaimer: Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research
NSE:NIFTY
by AATHIE
Nifty View for Dec 01, 2022 - all stake at 18800Dear Friends, Market is hovering at 18800. 18842 is the first 15 minutes low and it coming to that levels and getting rejected. Nifty has very high open interest at 18800PE and 18900CE. So it is more likely to stay in between for a while. I would prefer to stay out of the market till it does not give any break out or break down of these levels. I am having a bearish view and looking at OI and charts it is not showing any minor confirmation of bearish trade to take. I am not going to trade in this market on bull side since I am enjoying a fear and once it come below 18800 and sustain their for 15 minutes then I will open my bearish trade. till then no trade. As and when I will take trade will update you all....
NSE:NIFTYLong
by mentalFalcon42780