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Nifty ends at 17401, have the new bases been formed?NIFTY 50 EOD ANALYSIS 02-12-21 In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 17183.20 H 17420.25 L 17149.30 C 17401.65 EOD +234.75 points / +1.37% India VIX 18.09/-6.99% SGX Nifty 02-12-21 @ 1755h = -60 points FII DII = Not yet available CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a mild gap up and then immediately made an attempt to break the close of yesterday but found support around the level and then recovered well. It then made a sustained rally more or less uninterrupted till 17325 then fell around 40 points and then again retested the level of 17320+. Then there was a sudden fall in Reliance which brought Nifty below 17300 but it recovered very well and then ended the day closer to the high of the day at 17420. Both the indices have made higher highs, and higher lows. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 104 Top 5 Draggers contributed = 09 Net = +95 BANK NIFTY WEIGHT LIFTERS & DRAGGERS Top 3 Lifters contributed = 170 Top 2 Draggers contributed = 53 Net = +117 POSITIVES Nifty ended just above 17400 and closer to the day high of 17420. The sudden change of colors was due to the sustained efforts of the HDFC twins and the 2 Nifty twins of Infosys and TCS that have helped Nifty come out of the negative sentiments. Bank Nifty managed to close just above 36500. India Vix has fallen 7%. NEGATIVES ICICI Bank and Axis Bank chose to stay away from the party and that is what caused Bank Nifty to underperform. TRADING RANGE FOR 03 Dec 21 Nifty Support = 17000-17200 Nifty Resistance = 17425-500-600. Bank Nifty Support = 35800-36000 Bank Nifty Resistance = 36600-800-37000 INSIGHTS / OBSERVATIONS Bank Nifty OHLC was back again above 36000- the 4 previous sessions had lows above 35000+. This signals that the new base may have been built around 35500-36000. When Nifty falls 300 points there are many reasons out there and the majority starts guessing when it will stop. Now that it went up by 230+ points and ended the day at 17401, everyone started wondering whether this rally would continue! Perhaps that is why, it is said that - A bull market climbs the Wall of Worries! 17400 has been reclaimed after 5 sessions when the close was 17415 - that may well prove to be the next immediate hurdle. Bank Nifty has underperformed Nifty today by 500+ points as it generally rises or falls in the ratio of 1 Nifty point = 3 Bank Nifty points. Nifty soaring 234 points on a day when the European markets are in the red is indicative of the fact that the rally may not sustain and FIIs who may have bought in the Cash market may again Sell tomorrow. So the weekly close and more importantly the open on Monday, 06-12 is going to be crucial. An interesting insight on the Bank Nifty close is given in this tweet: What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 2-12-21 NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
Indices ignore global cues, end on a bearish noteNIFTY 50 EOD ANALYSIS 29-11-21 In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 17055.80 H 17160.70 L 16782.40 C 17053.95 EOD +27.60 points / +0.16% India VIX 20.83 SGX Nifty 29-11-21 @ 1900h = -46 points FII DII = Not yet available CHART BASED CONCLUSIONS using 5 Minutes Chart Taking strong global cues in to account, Nifty opened with a mild gap up and as usual immediately sold off as FIIs were net sellers on 26 Nov. It evinced buying interest around 16780 and made a smart recovery and hit the first resistance at 17100 and then retraced a bit and then again at 17160 and then fell yet again after being sideways for a long time. It barely managed to end above 26 Nov close by a few points as a token of respect to the global cues. Nifty has thus made a lower high and a lower low. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 65 Top 5 Draggers contributed = 30 Net = +35 POSITIVES Nifty managed to close in green is the first positive. Some of the leading scrips - Reliance, HDFC Bank, Kotak Bank, TCS, and Bajaj Finance were the leaders today. This is a good mix of Reliance, Banking & Finance, and IT. Bank Nifty bounced back up from its 200 DMA which is a good sign even though it ended in the red. In the process, it also held above its 50 Weekly MA. NEGATIVES Bank Nifty underperformed Nifty on account selling pressure in ICICI Bank and Axis Bank. HDFC remained under selling pressure today as well. The global cues are positive and yet the indices ended this way is not a good sign. TRADING RANGE FOR 30 NOV 21 Nifty Support = 16500-16700 Nifty Resistance = 17100 and above until 17500 is taken out on closing basis. Bank Nifty Support = 35000-35200 Bank Nifty Resistance = 36000-36200-500-800 INSIGHTS / OBSERVATIONS I find it a bit strange that a one liner from a South African medical agency stating the variant is just a sound alert and anot an alarm has made the global markets so much positive. I am neither a market maker nor a medical pro so I am confused with this one liner exactly like how the Bulls of the Indian stock markets are. Despite the global markets being positive, somehow our market participants could see what is not visible to the world as re Covid variant is concerned. A dismal EOD performance is indicative of the underlying bearish tone of the markets. Nifty could end in the green only because of Reliance as its contribution is 21 points. This also explains what may happen tomorrow if our Indices choose to ignore the global cues tomorrow as well. What do you feel about this? Thank you, and Happy Money Making! Umesh 29-11--21 NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
Simple Trade Setup | HDFC BANK | 23-11-2021 [ INTRADAY]NSE:HDFCBANK Observations: 1) On 1day time frame, it closes below 200DMA. But it has tendency to trade very less period of time below 200DMA. Will it be a fake breakdown or it will jump from here tomorrow? 200DMA is placed at 1521.29. Please refer below chart : 1 day Time Frame. 2) On 1 day time frame we can see level 1550 is major breakout level. 1500 is immediate support and immediate resistance is at 1525 level. Please refer below chart : 1 day Time Frame. ------------------------------------- Trade Setup for Date: 23-11-2021 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:HDFCBANK
by Trading_hawk
3
BUY HDFC BANK - SWING TRADEBuy HDFC Bank at 1545 Targets 1600, 1670++. Trail SL to avoid loss. Small SL Below 1520 on closing basis For Options and Big Capital Traders: Puts can be sold or At The Money Bullish Spreads can be created. Incase Sold Puts go in the money then settle by taking delivery of this stock. PS: This is a good long term stock and can be accumulated at these levels. Disclaimer: All charts are for educational purpose. Please consult your financial advisor before investing.
NSE:HDFCBANKLong
by parthsharma_999
Hdfc Bank Long I hope you can now see how HDFC BANK represents an excellent low risk profit entry setup allowing you to trade in the market. Take positions so that the risk/reward is in your favor. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these charts are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
NSE:HDFCBANKLong
by EntryandExit
A rangebound and choppy session forces the Indices to end in Red9NIFTY 50 EOD ANALYSIS 09-11-21 In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 18084.35 H 18112.60 L 17983.05 C 18044.25 EOD - -24.30 points / -0.13% India VIX = 16.00 / -2.09% SGX Nifty 08-11-21 @ 1845h = +23 points FII DII = -1028 Crores CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a mild gap up and rallied a few more points and then went below the previous close and it never returned above that line. A very rangebound and choppy day thus ended in a mild red. Nifty breached 18000 on the downside but then quickly recovered. India Vix is misleading the reader about what transpired during the day. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 37 Top 5 Draggers contributed = 53 Net = -16 POSITIVES Nifty ended above 18000. Reliance held on to 2500+ levels and helped Nifty close above 18000. ICICI Bank deviated from the private banks pack and ended in the green. NEGATIVES When HDFC and HDFC Bank lead the pack of the draggers, it is hard for the indices to end green. And that is what happened today. HDFC Bank kept Bank Nifty nervous and weak throughout the day and did not allow it to close above the previous close. Despite FTSE being positive, our Indices ended in the red which is a cause of concern. TRADING RANGE FOR 10-12 November 2021 Nifty Support 17800-17900 Nifty resistance 18100-150-200 Bank Nifty Support 38800-39000-200 Bank Nifty Resistance 39600-800-40000. INSIGHTS / OBSERVATIONS I am wondering how much of gains is FIIs banking as they keep selling relentlessly. Today also they have sold for more than 2000 Crores and this is reflected in the SGX movement which is already at -42 around 1900h. I am also wondering why should we have a spot and a future and why cannot we trade the spot itself? The reason is -- Both the indices faced issues with the spot above the previous close but the future below its previous close. This happened several times during the day and in the end, the futures did not allow the spot to close above the line. I feel this is causing challenges to intraday traders like me. My feeling is that unless FIIs turn positive, this game may be on. What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 09-11--21 NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
2