Nifty Analysis - Stance: Neutral
Recap from yesterday: “The last candle is looking quite deep and has almost negated the progress of 3 days. If it was not related to any news/event, the outcomes match quite strongly for an interim top-like formation.”
4mts chart link - click here
The last 30mts action yesterday was not a blip, we got some continuity today....
We have compiled the last 3 months of work into an Amazon Kindle ebook with the title “60 Post-Mortems on Nifty & BankNifty Q3 FY23-24” - request you to take a look and provide suggestions.
BankNifty Analysis - Stance changed to Neutral
BankNifty was not able to break away from the lower channel line. Normally BN swings from the lower boundary to the upper...
We have compiled the last 3 months of work into an Amazon Kindle ebook with the title “ 60 Post-Mortems on Nifty & BankNifty Q3 FY23-24 ” - request you to take a look and provide suggestions
Nifty Analysis - Stance changed to Neutral
Recap from yesterday: “Nifty is still way above the ascending channel showing bullishness. As long as the soft support level of...
BankNifty Quarterly Analysis
Surprisingly BankNifty rose only 9.56% ~ 4232pts compared to 11.6% by Nifty. There are 2 reasons for this.
RBI’s I-CRR and CAR weight adjustments decisions rocked the boat and BN fell much more than N50
NiftyIT rose to the occasion and supported N50, in the same period NiftyIT gained almost 12%
1D chart link - click here
...
Nifty Analysis
Recap from yesterday: “Since Monday is a holiday, it gives us added uncertainty on what to expect on Tuesday. Despite the 94pts gain by Nifty — I still see the price action as negative. I would like to go with a bearish stance for 26th Dec.”
4mts chart link - click here
Seems like I got the bet wrong, despite weakening geopolitical events -...
BankNifty Analysis
The trades on BankNifty were more practical and appropriate to the situation we have at hand.
4mts chart link - click here
We opened in line and then tested the top of the ascending channel from 10.03 to 12.03. There was rejection at those levels which took BN quickly to the bottom of the channel. We spent 13.43 to 15.11 at the lower end...
Nifty Analysis
Recap from yesterday: “I am inclined to change my stance to neutral with the developments of today. Giving the bears one more opportunity to prove their mettle, hence going with the bearish stance for tomorrow as well. All they have to do is keep Nifty50 below 21200 in the opening 2hrs for the momentum to kick in”
4mts chart link - click here...
A long ranging channel breakout in TCS is visible. Buying at CMP with strict Stop when price enters the channel again around 3740 spot price.
Targets 3835, 3882-3880sh range and long term target 3980 as this will possibly be a reversal point for a correction.
Nifty important levels to watch are as follows
📍 Support: 21430
📊Sell below: 21430 only on 15 minute candle closure below the level.
📉Target 1: 21380
📉Target 2: 21300
📍 Resistance: 20505
📊 Buy Above: 20505 only on 15 minute candle closure Above the level.
📈Target 1: 21550
📈Target 2: 21630
⚡⚡ Remember each level will act as a support and resistance...
BankNifty Analysis
Going neutral on BankNifty worked out pretty well today. But things were not looking in favor till we got the reversal at 10.03. Till then BN was following the falling price action from yesterday. I was kind of worried that we may even re-renter the ascending channel today.
4mts chart link - click here
How and why we got the reversal - No...
Nifty Analysis
Recap from yesterday: “My stance continues to be bullish with the first support level revised to 21341. All we can do now is trail the stop loss and let the winners run.
4mts chart link - click here
Nifty was absolutely trading in a narrow range with minor dips. More action was visible on BankNifty today which nudged me to go for a status change...
Zensar Tech for 2 targets marked on chart. May hit both targets by 10th Feb,24.
Moving average and RSI also strong.
Can be kept some for long term after both targets.
Exit when price closes below stop loss on friday at 3:15 PM
watch nifty it sectors stocks...
tcs
infy
techM
wipro
ltimindtree
coforge
l&ttech
warning: Please note that I'm not a financial advisor, and investing in the stock market involves risks. It's important to do thorough research or consult with a financial professional before making any investment decisions.
BankNifty Analysis
The patterns and price action on BankNifty were interesting today. For the first time, I noticed a dichotomy with Finnifty’s points. BankNifty and FinNifty had a variance of 0.5% index-to-index basis. This gap remained as such for the entire day. I do not remember the last time they had a sizeable gap. 81.57% weighted stocks in Banknifty have a...
INFOSYS has shown some sort of demand on 1hr timeframe right at the lower trendline which has been forming since 6+ months. One can make long position in the same with a target of the upper band of trendline.
Stop Loss: SL has to be below 1,325
Entry: Entries can be made after formation of a strong candle on hourly timeframe which is also backed by strong...
Overview of Nifty IT index.
Nifty IT index trading at 52-Weeks high.
The Nifty IT Index tracks the performance of 10 Indian IT companies listed on the National Stock Exchange (NSE). It calculates values using the free float market capitalization method, starting with a base date of Jan 1, 1996, set at 1000. This indexing measures the total free float market...
Nifty Today’s Analysis
Recap from yesterday: “We have the Nifty expiry tomorrow and as it stands the OTM premiums are pretty low indicating the option sellers are not expecting a big more tomorrow. In case we pick a direction tomorrow, the short sellers (PE or CE) will have to run for cover and that could spike the option premiums. I am going with a neutral...
