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Indices Go All Over, Yet End Almost Jaise TheNIFTY 50 EOD ANALYSIS -09-09-21 IN SUMMARY O / H / L / C 17312.85 / 17379.65 / 17302.7 / 17369.25 H-L = 77 points VIX 13.94 / -3.26% FII DII: +1127 Crores Likely open: From the above, it looks like a flat to positive open but what may happen in the world markets tomorrow CHART BASED CONCLUSIONS A gap-down open was immediately bought into and NIFTY attempted to take out the closing high of yesterday and then gradually sold off. It was a choppy day for the index being the expiry day as there were many tussles between the big heads. The range for the day was only 77 points. NIFTY ended the day in mild green and also held 17300 levels as the low for the day was 17302. Some consolation from yesterday. NIFTY WEIGHT LIFTERS & DRAGGERS The Weight Lifters NESTLE 14 BAJAJ FINSERV 07 BHARTI AIRTEL 07 TCS 04 GRASIM 03 TOTAL 35 The Laggards SBI LIFE 11 HDFC BANK 08 RELIANCE 05 BAJAJ FINANCE 05 TITAN 04 TOTAL 33 Lifter - Draggers = +02 POSITIVES NIFTY ended the day in the mild green. NIFTY ended the week at a new ATH though it does not appear to be decisive. NIFTY did not break 17300 on an intraday basis. FIIs DIIs have together bought in excess of 1000 Crores. NEGATIVES NIFTY could not go anywhere near 17400. BANK NIFTY range was just less than 300 points which were evident from the choppy movements and it ended in the red below 36700. The leaders lack momentum and traction. KOTAK BANK appeared strong at the open but by EOD, it has closed on the 200 DMA line - fence-sitting as usual. TRADING RANGE FOR W/B 13-09-21 17000-17200 is the support base.17400-450-500 may be the resistance area for NIFTY. BANK NIFTY support stays at 36200-400 and resistance at 37000-37200. INSIGHT / OBSERVATIONS There were 3 spells on the 5-minute chart of BANK NIFTY that seemed to have been triggered by Algos. These occurred in the candle starting from 1305, 1435, and 1455. The range was more or less similar but the pact varied. I observed this as I had my trades on and just as I thought I may have to exit the trade at a loss, it spiked and my trade was still in play. The 1455 candle and the one that followed it were game-changers. I was waiting for a dip before 1500h and had kept 36500 CE ready to hit Buy. The premium plummeted and was down 40+ points to 92. As I opened the window and was about to hit the Buy button, I saw that it was back at 132. The point where I had thought of exiting! And then it kept spiking! And in the final 10 minutes, it appeared to be an open secret that the expiry will be below 36700 as the index went above 36700 and immediately dipped and that sealed the fortunes of 36700 CE writers in green. The above series of events makes me wonder if the expiry drama is all staged by those who have the muscle power. From a low of 92 on that candle of 1455-1500, it added 90 more points in premium and the Option expired at 182 . Another interesting thing on the BANK NIFTY chart of 5 minutes chart is the W pattern - is this on account of psychology or algology? What do you feel about this? Thank you, and Happy Money Making! Umesh 09-09-21 P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. 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
BANK NIFTY rescues NIFTY for a changeNIFTY 50 EOD ANALYSIS -08-09-21 IN SUMMARY O / H / L / C 17375.75 / 17383.4 / 17254.20 / 17353.5 H-L = 149 points VIX 14.41 / -3.29% FII DII: -802 Crores Likely open: BANK NIFTY holds the key. Based on the numbers looks a flat to a positive open. CHART BASED CONCLUSIONS NIFTY played negative today and did not even bother to go past the opening high made and ended the day just below the P Close. In the process, it has not only done a lower high but also made a lower low by drifting towards 17250 and dangerously close it. Soon as Europe opened, the sell-off started and lasted for an hour or so, and then, there was the usual jerks-driven relief rally only to end flat. On the daily charts, it has formed a hammer pattern indicating good bounce from the lower areas. NIFTY WEIGHT LIFTERS & DRAGGERS The Weight Lifters KOTAK BANK 03 HDFC BANK 03 ICICI BANK 02 TITAN 02 HUL 01 TOTAL 11 The Draggers NESTLE 04 INFOSYS 04 TCS 04 BAJAJ FINANCE 03 RELIANCE 03 TOTAL 18 Lifter - Draggers = -07 The above is what mattered in the end. It looks like the rest of the scrips had no role to play or it was too insignificant by EOD. POSITIVES NIFTY ended flat and recovered more than 90 points after the sell-off. BANK NIFTY changed the corner and was the savior for NIFTY. Even though the private banks have not contributed significantly, their not being negative helped the indices to maintain their levels. RELIANCE and HDFC recovered well from their respective lows which came in handy in ensuring that NIFTY closes flat. NEGATIVES NIFTY could not go anywhere near 17400. NIFTY breached the recent swing lows and drifted towards 17250. INFOSYS and TCS have been showing continued weakness. MARUTI has been falling yet again after a good recovery a couple of sessions ago. FIIs DIIs remain net sellers. TRADING RANGE FOR 08-09-21 17000-17200 is the support base.17400-450-500 may be the resistance area for NIFTY. BANK NIFTY support stays at 36200-400 and resistance at 37000-37200. INSIGHT / OBSERVATIONS The price action in INFOSYS appeared to be managed if one looks at the candles for the last 2 hours. There were spikes and sell-off as if 1700 CE writers had a point or two to prove in ending the day below 1700. MARUTI fell more than 1.5% but it seems to have made no impact on NIFTY which is indeed surprising as, at one stage, the fall was close to 100 points. The star of the day was KOTAK BANK as it almost single-handedly changed the tide for NIFTY and therefore BANK NIFTY. The strong up move prompted other banks to also chip in. It now needs to be seen if it can hold on to the momentum possibly created by it being included in the LIC IPO proceedings. Interesting expiry tomorrow - will the God that rings in Auspicious Beginnings help NIFTY close the week at a new ATH? Or will the IT biggies with RELIANCE like to keep dragging NIFTY? Wait and Watch! What do you feel about this? Thank you, and Happy Money Making! Umesh 08-09-21 P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. 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
RELIANCE & INFOSYS Save the day for NIFTY NIFTY 50 EOD ANALYSIS -03-09-21 IN SUMMARY O / H / L / C 17399.35 / 17429.55 / 17345.55 / 17377.8 H-L = +84 points VIX 15.11 / +3.92% FII DII: -42 Crores Likely open: Unable to read - as today US markets are also closed so indices may consolidate again unless a heavyweight does some interesting moves. CHART BASED CONCLUSIONS NIFTY crossed 17400 as well in the first half an hour but failed to hold on to the same. NIFTY ended the day on yet another ATH close. A higher high and a higher low has been created. On the Daily charts a Doji has been formed indicating indecision. NIFTY WEIGHT LIFTERS & DRAGGERS The Weight Lifters RELIANCE 28 INFOSYS 23 WIPRO 11 HCL TECH 06 GRASIM 03 TOTAL 71 The Draggers HDFC BANK 10 ICICI BANK 05 KOTAK BANK 04 IOC 03 ITC 02 TOTAL 24 Lifter - Draggers = +47 The towering presence of RELIANCE & INFOSYS changed the fortunes for NIFTY. POSITIVES INFOSYS has made a strong recovery and is now coming close to the ATH levels hit a few days ago. RELIANCE closed at ATH of 2400+. NIFTY hit a new ATH above 17400. NIFTY closed in the green despite pressure from BANK NIFTY. NEGATIVES HDFC BANK, ICICI BANK & KOTAK BANK dragged BANK NIFTY and therefore NIFTY as well. BANK NIFTY closed near the day’s low and below 36600. FII DII is net negative of 42 Crores. BANK NIFTY could not go closer to 37000. TRADING RANGE FOR WB 07-09-21 17000-17200 is the support base. I do not know what the upper levels may be. BANK NIFTY support stays at 36200-400 and resistance at 37000-37200. INSIGHT / OBSERVATIONS BANK NIFTY trading range was 369 points only which means that the index is getting ready for a big move on either side. It has the tendency to surprise the participants so we will need to wait and watch. NIFTY ended in the green only because of RELIANCE & INFOSYS. RELIANCE fell sharply from the day’s high of 2480+ to end at 2425. RELIANCE and BANK NIFTY hold the key for tomorrow. What do you feel about this? Thank you, and Happy Money Making! Umesh 06-09-21 P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. 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
1
Simple Trade Setup | HDFC BANK | 02-09-2021NSE:HDFCBANK Trade Setup for Date 02-09-2021: 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 tomorrow. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion.
NSE:HDFCBANK
by Trading_hawk
5