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KOTAKBANK

Indices in panic mode - A notorious Shake Out of Weak Bulls?NIFTY 50 EOD ANALYSIS -28-09-21 IN SUMMARY O- 17,906.45 H -17,912.85 L- 17,576.10 C- 17,748.60 Close = -106.5 / -0.60% H-L = 337 points VIX 18.54 / +2.71% FII DII: Data not available - likely to be negative by 1000 Crores. SGX NIFTY @1940h - 17730 / -14 points Likely open: Flat to mild nrgative. CHART BASED CONCLUSIONS - 15 M Chart A mild gap-up opening went sideways for a while and then began sell-off so severe that NIFTY broke 17600 levels as well and at one point appeared that even 17600 may be hard to sustain. But then came a strong bounce back, however, NIFTY is still more than 100 points away from the P Close and below 17750. NIFTY has thus made lower highs and much lower low which is not a good sign. 17600 is no longer a safe level to bank upon. NIFTY WEIGHT LIFTERS & DRAGGERS NIFTY LIFTERS NIFTY DRAGGERS RELIANCE 15.00 BAJAJ FINANCE 26.00 IOC 7.00 INFOSYS 23.00 TITAN 6.00 ICICI BANK 15.00 KOTAK BANK 6.00 BAJAJ FINSERV 13.00 JSW STEEL 5.00 TCS 11.00 39.00 88.00 Lifter - Draggers = -49 POSITIVES NIFTY and BANK NIFTY both witnessed a strong bounce back from their day lows. RELIANCE and KOTAK BANK withstood the intense selling pressure and ended in the green and were mainly responsible for the fast-paced recovery in the indices. NEGATIVES NIFTY broke 17600 levels on intraday basis. 17920 also appears to be a level to reckon with. BANK NIFTY gave up higher levels very easily and also ended below 38000. TRADING RANGE FOR THE REMAINDER OF THE WEEK: As mentioned in yesterday’s post, the range mentioned here proved to be the one that was respected as far as the Support levels are concerned. NIFTY 17500-18100 BANK NIFTY 37200-38500-800. INSIGHTS / OBSERVATIONS The intense sell-off was caused by the spike in VIX over the last few sessions even as the indices were making new highs. Usually, VIX should turn negative near or around ATH but in our case, it has risen 40%+ from the lower levels. This is not a good sign. A wild swing was expected this week and that is exactly what happened today. Pre-Covid, Expiry Tuesdays used to be highly choppy and volatile, today was one such Tuesday. BANK NIFTY High to Low was 1082 points! This is what caused the panic all around. KOTAK BANK and RELIANCE stood rock solid and yet again proved that they have the tendency to not to follow the market and behave in their own manner. It may be a good idea to always have a position in these two scrips as these seem to be hedging devices against wild swings in the indices. What do you feel about this? Thank you, and Happy Money Making! Umesh 28-09-21 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:BANKNIFTY
by AVENUESOFINVESTMENT
DIIs spoil the party, Drag NIFTY from around 17800NIFTY 50 EOD ANALYSIS -17-09-21 IN SUMMARY O / H / L / C 17709.65 / 17792.95 / 17537.65 / 17585.15 H-L = 255 points VIX 15.23 / +5.69% FII DII: +130 Crores Likely open: Flat to negative. This is based on the SGX NIFTY and as the US markets close was in negative. A bounce-back is more likely as FIIs have bought in good numbers. CHART BASED CONCLUSIONS - 15 Minutes Chart A good gap up with a retest of the opening lows was then bought in to and NIFTY almost touched 17800 but there was immediate and sharp sell-off from 1030 that led to NIFTY falling 225+ points from the day high. After the first sell-off, it turned rangebound, but then as the market close was nearing, there was another sell-off which meant NIFTY ended below 17600. It was indeed surprising that the level was given away so quickly. NIFTY WEIGHT LIFTERS & DRAGGERS The Weight Lifters KOTAK BANK 17 HDFC BANK 17 HDFC 04 BAJAJ FINSERV 03 BHARTI AIRTEL 02 TOTAL 43 The Draggers RELIANCE 22 TCS 13 ICICI BANK 08 TATA STEEL 08 INFOSYS 07 TOTAL 58 Lifter - Draggers = -15 POSITIVES NIFTY went very close to 17800 but failed to clear the line. BANK NIFTY made a high above 38100. KOTAK BANK & HDFC BANK outperformed all the other leaders. HDFC appears to have found some support around 2800. FIIs have bought in large numbers. NEGATIVES INFOSYS is suffering from 1700+ Syndrome as it is unable to hold on to the level for more than a day at a time. RELIANCE was doing good but late afternoon sell-off brought it below 2400 yet again. VIX has gone up to 15+ after quite a few weeks. DIIs have sold heavily. TRADING RANGE FOR W/B 20-09-21 17300-17350 is the new support base. For now, 17800 may well prove to be a major resistance as the fall from just below that level was sharp and severe. BANK NIFTY support lines are 37200-400 and resistances at 38000-38200. INSIGHTS / OBSERVATIONS NIFTY was clearly hijacked by RELIANCE, TCS & INFOSYS. There was extreme volatility and fast movement in NIFTY making it a hard day for the traders. HDFC BANK retested 1560 levels and then shot up more than 1% to close above 1580 and this along with KOTAK BANK closing above 2000 saved the day for BANK NIFTY as it ended in the green and in the process, helped NIFTY from sinking further. Clearly, BANK NIFTY is now looking stronger than NIFTY and may well hold the key to NIFTY holding higher levels. RELIANCE ended the day 65 points lower than the day high which is more than 2% and that is what spooked NIFTY. SGX NIFTY is showing a gap down of almost 100 points but this is not entirely reliable as we have seen in the past. Since FIIs have bought in large numbers, a gap-down is more likely to be bought into unless there is something else that happens between 19-9 evening and the market open. Social Media is very quick to signal that the top was made on Friday and now NIFTY is heading down. When August was in good green, it was said that September would be a washout and now when NIFTY kept scaling ATH after ATH in Sep, a fall of 44 points is being called out as end of the road. The fact is no one really knows and there is no point doing guesswork as in a matter of 23 hours, the day would have ended and clarity would have emerged. The best approach would be to keep all news and views aside and react to the price action by sticking to the right process that has given you success in the past. That is what matters in the end. What do you feel about this? Thank you, and Happy Money Making! Umesh 19-09-21 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
#kotakmahindrabank:flag pattern&channel breakoutmomentum and trend indicator now showing that all timeframes are bullish stock had earlier broken out of resistance zone back in nov 20 but had retraced back to take support at previous resistance and then bounced from change in polarity aug 2021. Monthly weekly had been retracing in a trendline channel forming a flag pattern which broke out further up last week. There is likely for further up-move and an entry above current candle high with stop loss close below neckline on resistance zone could work out.
NSE:KOTAKBANKLong
by seekedgetrade
Divergence on KotakBank , A personal learning. Hello, Kotak bank shows a divergence (RSI) on 15 minute chart, However instead of exiting our long position we can hold the stock till it breaks down the trendline. A recent example, that I personally encountered : On 20th August - 24th August we could see a divergence on the Hourly chart of Hindustan Unilever, snapshot of which can be seen in the comments after moderation. So, instead of exiting our position on observing a divergence on RSI - we could eliminate a false signal by holding till the rally respects the trendline. In this case, a 7% additional rally. Do let me know your thoughts, Thank you.
NSE:KOTAKBANKEducation
by manoharpk
4