#Nifty50 and #Banknifty finally broke their losing streak and saw a relief rally in the second half. Massive action happening if we look at the market depth. A second day of this might mean we see a deeper short-covering rally.
Where do you think the #stockmarket is heading?
Important Nifty levels and Banknifty levels for tomorrow:
Levels for Nifty: 15,596,...
Nifty50 and Banknifty yet another bearish biased day. Gap up open with gap-filling for the THIRD time! No relief rally either...
Where do you think the stock market is heading?
Important Nifty levels and Banknifty levels for tomorrow:
Levels for Nifty: 15,596, 15,660,15,733, 15,750, 15,835 15,986 (don't want to pick tops)
Levels for Banknifty: 34,130, 34,420,...
#Nifty50 and #Banknifty saw a day with some bearish bias. Their down-moves were 2x their up moves.
Where do you think the #stockmarket is heading?
Important Nifty levels and Banknifty levels for tomorrow:
Levels for Nifty: 15,596, 15,660,15,733, 15,750, 15,835 15,986 (don't want to pick tops)
Levels for Banknifty: 34,130, 34,420, 34,640, 34,800, 35,011, 35,250,...
Completely opposite to yesterday, where the gap down open saw tremendous buying, today, the gap up open was sold into with banks emerging weak.
I take a look at the stock market using the 4-hour chart just to show how the #priceaction has been moving since the past few weeks.
The top stocks of the Indian markets are also included.
Are you bullish or bearish on ...
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
Trade with Stoploss!
For Information & Education purpose only!
Regards
Trade Leader Institute
#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...
