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The roar of the Bulls lifts NIFTY above 16900NIFTY 50 EOD ANALYSIS -30-08-21 IN SUMMARY O / H / L / C 16775.85 / 16951.5 / 16764.85 / 16931.05 H-L = 187 points VIX 13.32 / -0.67% FII DII: +1990 Crores Likely open: Positive but profit booking may kick in if Global cues do not support. CHART BASED CONCLUSIONS NIFTY surprised most as it ended the day above 16900 and a few points away from the ATH level. The gap-up opening above the resistances was sustained throughout the day and after some consolidation, it kept inching up. NIFTY is now clearly in the proverbial “Uncharted Territory” so the action will be stock movement based as well as how well BANK NIFTY manages to hold higher levels. The daily charts indicate a strong bullish candle. NIFTY WEIGHT LIFTERS & DRAGGERS The Weight Lifters RELIANCE 30 BAJAJ FINANCE 23 ICICI BANK 20 HDFC BANK 17 AXIS BANK 13 TOTAL 103 The Draggers INFOSYS 07 TCS 04 NESTLE 04 TECH M 03 EICHER MOTORS 01 TOTAL 19 Lifter - Draggers = +84 The above indicates that a larger base of scrips in the NIFTY family helped it pass the ATH level and close also at a new ATH. POSITIVES NIFTY crossed 16900 with relative ease. BANK NIFTY finally emerged out of the resistances and soared which helped NIFTY. RELIANCE closed at 2275 after almost a 10 month period and as long as it holds 2250, it has the potential to head higher taking NIFTY even higher. MARUTI and TATA MOTORS finally managed to turn around and possibly the short covering in these two would have fueled NIFTY rise even further. Leading banks have also turned green and lifted BANK NIFTY. FIIs and DIIs were both Net Buyers today and FIIs have taken the lead. NEGATIVES IT leaders are under pressure as INR has gained. Also, the sector has witnessed a good run so profit booking is likely and obvious at higher levels. DII buying has reduced so we may witness some selling from them in the coming days. IT scrips need to get back in the game for the rally to sustain otherwise it would get diluted. TRADING RANGE FOR 31-8-21 The Nifty baseline moves up to 16700-750. The resistances are not known for now except the big one at 17000. BANK NIFTY support base also slides to 35400-500 and resistance at 35800-36000-36200. INSIGHT / OBSERVATIONS TATAMOTORS seems to have some issues with 293+ levels as it reached the level in the AM session but failed to hold on and reclaim. MARUTI did well to end the day closer to the day high around 6800. I picked BAJAJ AUTO 3800 CE at 70.5 when the spot was at 3735. It ended the day at 3720, 15 points lower and the premium “appreciated” by 8 points! I have not seen such a situation before. I am not sure how to interpret it - whether the premium is hiked for the writers to benefit or the implied VIX has gone up. Let us see what happens tomorrow. What do you feel? Thank you, and Happy Money Making! Umesh 30-8-21 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
Simple Trade Setup | HDFCBANK | 30-08-2021NSE:HDFCBANK Trade Setup for Date 30-08-2021: 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
Simple Trade Setup |HDFCBANK | 27-08-2021NSE:HDFCBANK Observations: 1) After breaking neck line of rounding bottom at 1551 level it has been taking support from this neck line. Please refer below chart : 15min time frame 2) For the short to mid term targets looks till 1634 level. Please refer below chart. ------------------------------------- Trade Setup for Date 27-08-2021: 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 tommorrow. 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
Nifty ends at ATH Close above 16600NIFTY 50 EOD ANALYSIS -24-08-21 IN SUMMARY O / H / L / C 16561.4 / 16647.1 / 16495.3 / 16624.6 H-L = 152 VIX 13.19 / -3.65% FII DII: +730 Crores Likely open: Flat to positive with resistance at 16650-700. CHART BASED CONCLUSIONS Yet another gap-up opening was sold into. Yet, Nifty made a higher and a higher low. Nifty ended at ATH close and is now 70+ points away from the ATH level and this may be the hardest journey. A Pro gap-up opening was seen today indicating that the bulls are likely to buy at any dip in the index. NIFTY WEIGHT LIFTERS & DRAGGERS The Weight Lifters BAJAJ FINSERV 28 HDFC BANK 23 BAJAJ FINANCE 20 ICICI BANK 12 RELIANCE 08 TOTAL 91 The Draggers INFOSYS 10 HDFC 08 TCS 04 NESTLE 03 ASIAN PAINTS 02 TOTAL 27 Lifter - Draggers = +64 The above explains how Nifty managed to close at the ATH level as the draggers proved ineffective. POSITIVES A sustained rally to end the day at ATH. HDFC BANK decisively cleared the long-time resistance of 1530-35. Even though HDFC, INFOSYS, and TCS ended in the red, they could not have any significant impact on the Nifty. BANK NIFTY helped Nifty as it soared 700+ points from the intraday low of 35070. NEGATIVES 16650 is likely to be a hard line to cross as the index immediately fell as it was close to that area. Similarly, for BANK NIFTY 35800 appears to be a tough one to clear as it retraced from around that area. FIIs have sold heavily in excess of 1,500 Crores and Nifty ends on an ATH! There is something that is still bugging the FIIs. TRADING RANGE FOR 25-8-21 The Nifty baseline moves up to 16400-450. The resistances are now from 16650 onwards. BANK NIFTY support base also slides to 34800-35000 and resistance at 35800-36000-36200. INSIGHT / OBSERVATIONS As mentioned yesterday, TATAMOTORS has been witnessing intensive selling pressure for the last few days and today it breached its 200 DMA around 278 and made a low just above 268. It then made a smart recovery to close just above the 200 DMA but clearly, there was something at play and hopefully, it is now out of the way. MARUTI also came under pressure but it derived support from the earlier swing low which became the FIB level around 6745-50. However, it keeps getting sold into around 6825-50 and it barely managed to close above 6800. Another observation re MARUTI is its 6800 Aug CE. This call was witnessing wild swings and moved all over and quickly - sometimes, it rose well ahead of the spot moving up and then getting sold in to and going flat even when the spot moved up. There was something at play that was not visible on the charts. What do you feel? Thank you, and Happy Money Making! Umesh 24-8-21 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
Simple Trade Setup | HDFC BANK | 23-08-2021NSE:HDFCBANK Observation: 1) On Daily Time Frame, It made good green candle after such big gap down. And closed above 1510 level as well as it took support from 50DMA. Please refer Chart below: Daily time frame. ------------------------------------- Trade Setup for Date 23-08-2021: 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 target w.r.t price action working near that level on Monday. Hope I made it easy to understand it. Do comment your doubt or suggestion.
NSE:HDFCBANK
by Trading_hawk
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