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Finnifty

#Finnifty"Good morning! As of June 27th, The global market is showing a neutral to a slightly positive start with a moderately bearish market sentiment. There is a possibility of a slight gap-up opening. If the market experiences a pullback afterward, we can expect a minor pullback to reach the immediate resistance zone. If the market turns around there, we can anticipate a correction. Alternatively, if it breaks, we can expect a pullback continuation. On the other hand, if the initial market decline is sharp, the correction will likely continue with minor pullbacks."
NSE:CNXFINANCE
by Manickamtraders
FinNifty levelsFinNifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:CNXFINANCE
by sacxe
#Finnifty"Good morning! As of June 26th, the same sentiment continues; there is no significant difference compared to the last session. The global market is showing a neutral to slightly positive start with a moderately bearish market sentiment. There is a possibility of a slight gap-up opening. If the market experiences a pullback afterward, we can expect a minor pullback to reach the immediate resistance zone. If the market turns around there, we can anticipate a correction. Alternatively, if it breaks, we can expect a pullback continuation. On the other hand, if the initial market decline is sharp, the correction will likely continue with minor pullbacks."
NSE:CNXFINANCE
by Manickamtraders
Finnifty"Good morning! As of June 23rd, there is no significant difference compared to the last session. The global market is showing a neutral to slightly negative start with moderately bullish market sentiment. There is a possibility of a slight gap-down opening. If the market experiences a pullback afterward, we can expect a minor pullback reaching anywhere between 38% to 61%. If the market turns around at 61% or 78%, we can anticipate a correction. Alternatively, if the initial market decline is sharp, the correction will likely continue. For pullback confirmation, consider using EMA20 and the 38% Fibonacci level, as both will indicate a conservative reversal."
NSE:CNXFINANCE
by Manickamtraders
PostMortem on BankNifty Today & Analysis of 21 JUN 2023Yesterday I said, " I will be a believer if we continue the green spell tomorrow also." - guess what Finnifty hit all time high today at 19660.1 at 13.55. This is partly due to the news flow in HDFC & HDFCBK (both are having good weightage in finnifty). This is the main reason it outperformed with gains of 0.68% whereas Nifty & Banknifty had gains of 0.21% each. Today proved to be a perfect day to deploy straddle on banknifty - the momentum to swing was low and open/close were quite nearby. I assume most of the traders would not have deployed it as we had some aggressive move last hour yesterday. Nifty50 on the other hand provided adequate volatility to drive up the options prices much better than BN. The period from 09.55 to 11.15 looked dangerous & I was looking for bearish trades. Again the strength of bulls outpaced the bears - we had a gradual recovery and closed near the high point of day. The biggest difference in trade today BN vs N50 was the volatility. BN was not at all interested in going up or down, whereas N50 had eyes to take out the ATH. Unfortunately we fell short today also. INFY & KOTAKBANK pulled the plug after 15.05 otherwise we should have seen history in the making! I personally think the HDFC-HDFCBK moves 1.63% & 1.75% were unusual and this should have broke the existing rhythm of BN's movement. I would like to see tomorrow's price action i.e. expiry trades too and then become a proper believer. One of the reason I am saying that is even with gains of 1.75%, hdfcbk could only move BN up 0.21%, there were many trades taken on the other banks to counter-balance the upmove in HDFCBK. I would like to see how it pans out tomorrow, esp after 14.00. --- 15mts is still sloping downwards indicating weakness. Its not an outright bearish view but somehow BN is not that excited with N50 going for new highs.  --- 1hr shows a converging pattern unless we breakdown from the 43402 levels & cross 43253 quickly. Currently what BN is lacking is momentum, only a downward move will give it strength to rally & break through!
NSE:BANKNIFTY
by viswaram
PostMortem on BankNifty Today & Analysis of 20 JUN 23 + Finnifty--- How many of you were prepared for the last 1 hour move today, I assume 90% of traders would have anticipated it. The real wow moment would be if we get to see the unwinding tomorrow. At least till the 43528 levels. We added 331pts between 14.25 to close today, most of which were due to Nifty's resistance crossing or positional trade on Finnifty expiry. The truth is we will only get to know tomorrow. Banknifty's open was inline and the good news for the bear is we broke the swing low of 15th June. If you looked at the opening hour price action, banknifty was really showing signs of further selling, but it did not happen. Again we got saved by the crazy dip buyers, this is more evident in the Nifty50 chart. From 10.40 there was consistent buying in N50, but the buying momentum came to a halt near the resistance level of 18762. From 13.25 to 14.25 the pressure was building on N50 to break through the resistance - but we all knew it had to come via banknifty or finnifty. As Finnifty had expiry today, the job was simple - buy some bank stocks today and get the nifty to surge past the resistance. These big boys could really square off these purchases tomorrow & could make money both ways. The green candles from 15.00 to close is an indication of how Nifty50 surged once the resistance was breached. We literally ran out of time, otherwise we could have taken out the ATH today itself. --- 15mts TF is showing some unique signals, we are getting lower highs but the lower lows are not that distinct & sharp. For real selling pressure we need deeper lower lows. --- 1hr TF is still not bearish, it would have almost tipped in the favor or bears today if 43253 got broken. Sadly that did not happen, but I am sensing pressure getting build up & honestly banknifty did not want Nifty50 to cross the ATH. --- Finnifty Expiry Special The proof that speculation came from Finnifty is here, the surge of 0.78% when it was 0.3% down! Who would believe that! Since the markets are gung-ho & there is optimism all around - we normally dont expect markets to go in red. When in red, bouncing back to zero levels or cutting the losses - understood. But going from -0.3% to end the day with +0.4% gains - unusual ! Well, I will be a believer if we continue the green spell tomorrow also. The surge in 19450 CE was proof of this. 1577% ROI on this strike alone, you wont believe, I squared off this position at 6.5 only to see it zoom to 52.9 in the money!
NSE:BANKNIFTY
by viswaram
FinNifty levelsFinNifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:CNXFINANCE
by sacxe
PostMortem on BankNifty Today & Analysis of 16 JUN 2023Nifty was looking fully loaded to hit a new all time high today, it ended 23 pts short!  Probably Nifty50 requires more postmortem than banknifty today, so let us start there! N50 started the day gap-up thanks to the +ve handout from SPX yesterday. Once it reached the resistance zone of 18762, it lost steam and was trading sideways. All of a sudden at 13.55, N50 got some turbo boost and went over the resistance through ease. Not just that, it was poised to take out the ATH. All the candles from 13.55 to 14.55 were green and a rally of 107pts ~ 0.57%. The reversal came exactly when banknifty hit the resistance - which we will discuss below. Banknifty came back very strong from yesterday's brutal selling. It added 494 pts today thanks to the outperformance by all the major banks. None of the bank stocks closed in red today. The rally from 13.55 to 14.55 helped banknifty climb 396pts ~ 0.91% vs 0.57% for N50. But look at the encircled region near the 44068 resistance zone. As soon as this was hit, banknifty came tumbling down - pulling down N50 too. NiftyIT was weak today, otherwise we would have definitely hit a new ATH! Seems like the next week we will have some real action! --- 15mts TF shows BN made an attempt to get back to the familiar trading range, as the resistance zone came in the way - that move got spoiled. Will the positiveness of N50 pull up banknifty to new ATHs next week - we will watch next week. --- 1hr TF plotted with the Fibonacci retracement shows BN is right at the 61.8% levels from the fall yesterday. It also shows there was some friction at the 50% level where it spent 3hrs today. The chart is not bearish yet, but the inability to cross the resistance throws some questions on us. --- We had 2 contradicting moves this week. On 13th June Finnifty expiry we had the markets make a fake upmove as proven by the rejection on 14th down move. On 15th we had a fake down move as proven by the rejection today with a strong upmove. There is a small subset of traders who understand how the markets are getting manipulated & play along. Unless BSE brings the BANKEX expiry to Wednesday - we are going to witness these unusual speculations.  On a broader note the investors are unaffected - the markets are not going anywhere, literally.
NSE:BANKNIFTY
by viswaram