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Intraday

13 Sep ’23 Post Mortem on Nifty - Cautiously BullishNifty Analysis Recap from yesterday: “I wish to just wait and watch for tomorrow and not get into an aggressive long position until Nifty50 has consolidated at the current levels. I wish to modify my stance to neutral from bullish. If we break the 19870 levels tomorrow — I wish to go short (bearish).” . I did not get into any new long position in Nifty, in fact I rolled up the PE to 19900 from 19800. The rally momentum is not lost, its just that we had a blip yesterday. Seems like Moneycontrol got the reason for the huge cut on Midcaps and Small caps yesterday - Talk of basket selling by European financial services firm fuels meltdown in mid, small-caps Nifty50 rallied 0.7% ~ 139pts vs Midcap +0.12% & SmallCap +1.02%. Has some money rotated and re-entered the large caps? The reason I did not go long today - The swing high of 20110 still not taken out. Meanwhile its still a win for the bulls as the final close is above 20000 levels. On the 1hr chart Nifty50 is looking all the more positive and raring to go. I too wish to go long with downside protection via PUTS. The swings in options prices were crazy and the volume of put writing was intense suggesting more traders are betting on the bullish side. I expect the expiry to be above 19989 if we still have the bullish sentiment. I wish to stay 50% neutral and 50% bullish for tomorrow and would like to go 100% bullish once the swing high of 20110 is taken out.
NSE:NIFTYLong
by viswaram
Bank Nifty Daily analysis - 1D chartThe Bank Nifty has found strong support at the 45,000 level and is making its way toward the 46,000 range, indicating an upward trend in the Indian market. If the Bank Nifty continues to exhibit strength over the next two to three trading sessions, it could drive the Nifty index to reach new all-time highs, accompanied by increased trading volumes and solid support. However, there is a significant concern looming over this market rally, and that pertains to the decreasing value of the Indian Rupee compared to the US Dollar. Presently, the Rupee is trading approximately 0.5% lower than its historical highs, potentially leading foreign institutional investors (FIIs) to consider booking their profits. If the US Dollar continues to appreciate, and market volatility (VIX) remains low, any sudden downward movement could spell trouble for the market, potentially disrupting overall market sentiment.
NSE:BANKNIFTYLong
by tradeGambler