Get started

Finnifty

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
PostMortem on BankNifty Today & Analysis of 14 JUN 2023--- Today's price action is very interesting mainly because banknifty proved the last 30mts of surge yesterday was fake banknifty won the tug-of-war with nifty50 at 15.00 today We will analyze both of them in detail. --- 1. We had an unusual gap-up opening and then sudden fall of 220pts ~ 0.5% in 20 minutes. Banknifty went below the support of 44068 inside first 10mts itself. This shows the last 30mts rocket-style surge we had yesterday was a fake. I guess it would be positional trades taken as part of Finnifty expiry. People with deep pockets could easily manipulate markets at the expense of retail traders. Any trader who would have short sold 19450 CE on finnifty could relate to this. Ideally 19450 should have expired worthless, but the 30mts of surge ensured it closed in the month. And look what we have today ! Banknifty & Finnifty share similar component stocks which makes it easy to take a view on Tuesday & an opposite view for Thursday. Both the views will make money & the markets will stay at the same levels! What SEBI has to do is push BSE to place its BANKEX expiries on Wednesday ensuring big-boys dont manipulate markets! 2. In Yesterday's report, I did mention a tug-of-war between banknifty & nifty50, options data was showing bearishness for BN and bullishness for N50. It swung in N50's direction yesterday. Today the opposite happened at 15.00 - again the options data showed bearishness for BN & bullishness for N50 & it swung in BN's favor. One other reason that happened may be because BN was at its support level yesterday & N50 was at its resistance level today. --- Coming back to the 15mts TF of banknifty, its still in the range. Today we had a break of support - so its advantage bears. For momentum to build we need to break either of the range's band. --- 1hr is not showing any bearishness, but the same range based trade is continuing. Tomorrow's expiry is going to be interesting as we already have lot of short build up at CE side!
NSE:BANKNIFTY
by viswaram
Finnifty Key Trading Levels for 15th June 2023 Finnifty Key Trading Levels for 15th June 2023 Disclaimer: I do not give any tips or buy sell recommendation I only teach trading strategies. These levels are purely based on Price action/demand and supply zones & and consumed only for educational purpose & should not be taken as buy/sell recommendation. I will not be responsible for any loss/profit incurred if anyone takes trades based on my view. Please consult your Financial Advisor before making any trading decision
NSE:CNXFINANCE
by sbkurandwad77
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
#FinniftyGood morning! As of June 13th, the global market indicates a positive start, with a bearish market sentiment. It might open with a gap-up. After that, if it sustains, we can expect pullback continuation with minor consolidation. However, the notable point here is that Nifty has a single bending wave (C), while finnifty has three bending waves (ABC). Therefore, the market might follow the trend of whichever one is dominating. Simply put, if Nifty undergoes a correction after completing the "C" leg, finnifty will turn the range market into a correction without finishing three waves. Conversely, if finnifty dominates the market, Nifty might experience consolidation before a pullback continuation, ranging from 61% to 78%. On the other hand, if the initial market declines sharply, we can expect a range-bound market or correction.
NSE:CNXFINANCE
by Manickamtraders
Finnifty weekly expiry analysis (13/06/23).Finnifty on the daily time frame has been consolidating and forming confusion candles. It has taken support from the 20 ema and trading around 19400 levels. Today being weekly expiry nice movement can be seen as the market has consolidated. On the hourly chart, the market has been trading below the 20 EMA and can give 200 EMA as target. Markets are generally moving in the first hour or after 1 P.M. On 15 minutes charts, the market has been forming a descending triangle. Its break out can give good movement. Support :- 19390 ,19325 Resistance :- 19445, 19500 Watch for the daily 20 ema for a support as the market has consolidated and closed near the levels. If the support zone and the moving average is broken good bearish trade can be captured. Wait for the price action near the price levels before entering the market.
NSE:CNXFINANCE
by TheMamboMomentum
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
#FinniftyGood morning! As of June 12th, the global market indicates a positive start, with a bearish market sentiment. It might open with a gap-up. After that, if it sustains, we can expect pullback continuation with minor consolidation. Structurally, this pullback wave is the 2nd wave, so once it reaches Fibonacci levels of 61% or 78%, we can expect a correction. On the other hand, if the initial market declines sharply, we can expect a range-bound market or correction. It should break yesterday's low.
NSE:CNXFINANCE
by Manickamtraders
Fin Nifty for IntraDayFin Nifty Calculation for Monday 12/06/2023 IntraDay 1) If Flat Open - we will for wait market to settle down if it breaks friday low go short till 19300. Flat Open - we will wait for market to settle down if it breaks 19450 we will go long till 19600 2) If open Gap Down around 19300 wait to form a bullish candle in 15 min candle. After breaking the candle high we go long for 1st Target is around 19450-19500, and 2nd Target is around 19550-19600. 3) If opens Gap Up around 19600 we will wait for a bearish 15 min candle. After breaking the candle low we will enter the trade fro the Target one is around 1945-19500, 2nd Target is around 19350- 19300. This is my view on FinNifty
NSE:CNXFINANCE
by UnknownTraderIn
#FinniftyGood morning! As of June 8th, the global market indicates a neutral to slightly positive start, with moderately bullish market sentiment. It might open with a neutral tone. After that, if it experiences a sharp pullback, that's a sign of sub-wave 3rd continuation. If it rejects around the major key resistance zone, we can expect a 4th minor correction and a 5th pullback wave. Once the 5th wave is complete, we can expect a correctional (abc) structure. If you want additional confirmation, then use EMA 20 and fib 38% level. If it breaks EMA 20 and the fib level of 38%, that's a sign of a trend reversal.
NSE:CNXFINANCE
by Manickamtraders
#FinniftyGood morning! As of June 7th, the global market indicates a neutral to slightly positive start, with moderately bullish market sentiment. It might open with a neutral tone. After that, if it experiences a sharp pullback, that's a sign of sub-wave 3rd continuation. If it rejects around the major key resistance zone, we can expect a 4th minor correction and a 5th pullback wave. Alternatively, if it initially declines and breaks the trend reversal zone, we can anticipate a correction continuation.
NSE:CNXFINANCE
by Manickamtraders
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