Nifty is above 15750. May face resistance at 15900. Being last expiry of the month volatility is expected. Follow the targets with trading rules
Immediate Support: 15800
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#Nifty and #Banknifty saw a very interesting close to the week.
After painting a grim picture in the first half, they saw a V-shaped recovery which propelled price up to p.close. So unless you were looking at the charts and #priceaction, the EOD closing would show a flat day.
The indices have still formed an LH-LL formation, which isn't suitable for bulls. This...
Both, nifty50 and banknifty saw a bearish Thursday expiry.
After the gap down open, there was a brief attempt to reclaim highs, but selling pressure came in around 50MA on the Hourly chart for Nifty and around 34,870-34,700 for Banknifty.
There was a minor relief rally towards the end preceded by a shakeout, this time at 1415h instead of after 1430h....
Nifty and Banknifty both saw a weak day today, with higher levels being rejected after a weak intraday momentum.
While option decay was present, trying to go contra might have yielded a better RR as even though the broader bias appeared to be on the downside, we did see a few very strong spurts, especially the first candle in Banknifty.
So let's analyse #nifty...
Yesterday Nifty was in a Range 15840 to 15900,
the trend line range is expanding 15730 to 15937.
15832 fibonacci support will be important to watch
if it breaks down it can retest the next support.
Nifty is just a smudge away from 16k! Private banks, Media and Realty stocks did quite well today, with PSU banks and many other sectors retracing.
Interestingly, Banknifty saw some strength in the second half, but Nifty saw some selling.
Let me break it down for you, candle by candle. Along with the top stocks, Reliance, HDFC Bank, Infosys, HDFC, ICICI Bank,...
NIFTY is ASCENDING triangle pattern and it can resume its uptrend
15810-15790 is a SUPPLY ZONE to look at as of now as its break can lead to further all time high
Don’t shorts unless this pattern breaks with proper candle close
Nifty may face resistance 15050. Follow targets with rules
Immediate support: 15650
Major Resistance:15800
Major Support: 15550
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#Nifty50 and #Banknifty both saw some stiff resistances in today's broad-market fall. This could be profit booking considering how the markets have gained consistently so far.
Generally, after a big move we have seen price consolidating or moving in a range-bound way, however today we saw several massive candles being formed. Option decay was fairly high, but...
#Nifty50 yet again performed better than #banknifty today. This is typical behaviour which we have witnessed for quite some time now.
To show you the extent of divergence, Nifty's hourly RSI is 60+. Banknifty's is below 40.
The main culprit for this were the HDFC twins along with Kotak Bank. They might be looking for a trigger for added momentum which has the...
Despite the lack of momentum in the first half, the markets were able to recover, with Nifty nearly touching 15,700. Banknifty showed strength, too
As an option buyer, if you were able to manage the first half well (by either scalping or not trading), you could have entered using a simple setup in the second half to capture the rally. Overall, choppiness seemed...
Despite the weak open, the markets were able to recover in the second half, with Nifty nearly touching 15,600. While the short-term trend still appears bullish to me, we have seen a bit of consolidation of sideways correction after a fresh ATH is made before the next leg of the rally.
Open interest data appears to have a bullish bias as of today's closing, but a...
The markets saw a little weakness post a dream run even though Nifty tested 15,600 levels. While the short-term trend still appears bullish to me, we have seen a bit of consolidation of sideways correction after a fresh ATH is made before the next leg of the rally.
Open interest data appears to have a bullish bias as of today's closing, but a lot can change...
Above 15500, Nifty will continue bull run. Nifty is at lifetime high. Be cautious !
Major Resistance:15600
Major Support: 15450
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Nifty saw yet another strong day, closing well above 15,500 and nearly testing 15,600 levels. Banknifty trend appears bullish too, even though it's still 5.7% away from its ATH. But that might mean that BNF can play catch-up very soon.
Nifty creating yet another high and closing above the 15.5k mark is a very bullish sign, but in the past, we have seen a...
Nifty in bull mode. Nifty will have to sustain 15550 in the upper side
Major Resistance:15600
Major Support: 15450
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