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RELIANCE

Private Banks and Reliance paint Ithe indices Red NIFTY 50 EOD ANALYSIS 03-11-21 Here is wishing you and your families Happy Festivities! In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 17947.95 H 17988.75 L 17757.95 C 17829.20 EOD - -59.75 points / -0.33% India VIX = 16.13 / -5.45% SGX Nifty 03-11-21 @ 1855h = -14 points FII DII = Not yet updated. It is likely to be Net negative as FIIs keep selling every rise. CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a decent gap up and attempted to retest 18000 levels but was shown the downside at 17988 itself and it could never gather enough buying at lower levels to retest the day high. It then took support the opening low and rallied a bit but then soon after 1100h, the infamous sell-off commenced and in the first round it broke 17800 by a few points and then rallied almost 100 points. Thereafter it again fell almost 150 points and breached 17800 on the downside and made a low of 17757. Late recovery in Reliance helped Nifty close above 17800. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 74 Top 5 Draggers contributed = 113 Net = -39 POSITIVES Nifty somehow managed to end above 17825. SBIN post its result ended in the green. LT made its presence felt today withstanding the selling pressure with robustness and was up 4%. Infosys and TCS ended in the green. NEGATIVES The inability of Nifty to hold on to the opening gains indicates that there is weakness in-store and unless that excess supply is taken out, Nifty is likely to keep facing this kind of behavior. The above were my words for yesterday and regrettably, today was no different. Reliance and private banks maintained the pressure on indices throughout the day and especially in the PM session. Bank Nifty fell 850 points from the day high and ended 500+ points lower than the previous close which is not a good sign. TRADING RANGE FOR 04 November 2021 - The trading session is only for 60 minutes. Nifty Support 17600-17700 Nifty resistance 17900-17950-18000-18100 Bank Nifty Support 39000-200 Bank Nifty Resistance 39600-800-40000. INSIGHTS / OBSERVATIONS Red is considered to be an auspicious color, but not in the financial world! However, indices were painted in red ahead of the Muhurat Trading which is not a good sign. Looks live a Maths wizard is driving Nifty Algo as Nifty high for the day was 100 points higher than the previous close and Nifty close for the day was 100 points lower than the close of 01-11-21. SBIN became an exceptional scrip as it was the only Bank Nifty member that ended in the green and that too post its results. Indices have also been quite disciplined in following the FIB levels - the key point is when would they take these levels as support and when as resistance is difficult to make out. HDFC Bank is losing its shine as it behaves like a cranky child who holds the key to happiness within the family of Bank Nifty. It was unusual to see Kotak Bank also join the peers in ending the ongoing Samvat Year in red. I am unable to understand what India Vix stands for and how would it go down despite the volatility is very high with very fast moves and wide spreads? It fell 5% today when there was bloodbath all over in the PM session. What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 03-11--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
Reliance & Metals drag Nifty below 17900NIFTY 50 EOD ANALYSIS 02-11-21 Here is wishing you and your families Happy Festivities! In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 17970.90 H 18012.25 L 17847.60 C 17888.95 EOD - -40.7 points / -0.23% India VIX = 17.06 / -1.04% SGX Nifty 02-11-21 @ 1840h = +19 points FII DII = Not yet updated. It is likely to be negative from FII side. The 1355h candle was from their side is what I read. CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a decent gap up and immediately shot up to 18000+ and then fell 100+ points and breached 17900 and then recovered and then again fell and yet again recovered mildly to hit 17940. Thereafter it again fell more than 75 points and breached 17850 on the downside and in the last 90 minutes struggled to close above 17900 even on a 5-minute candle. It was evident that the sentiment was not going to allow Nifty to close above 17900. Nifty has thus made higher highs and higher lows. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 27 Top 5 Draggers contributed = 50 Net = -23 POSITIVES Nifty hit a high above 18000. Bank Nifty is for now looking better placed than Nifty. It also went past 40000 during the day. NEGATIVES The inability of Nifty to hold on to the opening gains indicates that there is weakness in-store and unless that excess supply is taken out, Nifty is likely to keep facing this kind of behavior. Reliance is dragging Nifty and even the private banks have shown some weakness which impacted Nifty during the day. India Vix indicates that it is down but the volatility in Nifty was intense and the moves were fast and very choppy even within a narrow range. For over 90 minutes Nifty made several attempts to breach past 17900+ levels but it could not manage to close above the line except for 1 candle where it tested the previous close. TRADING RANGE FOR 03 November 2021 Nifty Support 17600-17700 Nifty resistance 17900-17950-18000-18100 Bank Nifty Support 39000-200 Bank Nifty Resistance 40000-40200-40400 INSIGHTS / OBSERVATIONS Nifty was managed in such a way that it would end below 17900 - maybe this was to deflate 17900 CE premium or to simply let the call writers exit their positions intraday in gain. Nifty has developed this not-so-good tendency to get sold off at the opening high and never retest during the day. Previous Close level has never be so very well resisted as Nifty has been doing recently as if this is a bearish market. What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 02-11--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
The Sell-off continues - Nifty ends October on a flat noteNIFTY 50 EOD ANALYSIS 29-10-21 In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 17833.05 H 17915.85 L 17613.10 C 17671.65 EOD - -185.6 points / -1.04% India VIX = 17.43 / -2.60% SGX Nifty 29-10-21 1920h = +14 points FII DII = -800 Crores CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a mild gap down but then within 10 minutes fell more than 200 points and hit a low of 17613. It then recovered 300 points in a swift and sharp move but hit an earlier resistance around 17915 and from there fell sharply and almost retested the day low. It then shot up almost 150 points but in the last half an hour fell yet again and finally ended well below 17700. It was a very choppy and violent moves day. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 21 Top 5 Draggers contributed = 136 Net = -115 The above clearly shows the extent of bearish sentiment that prevailed in the market. POSITIVES Bank nifty managed to close above 39000. Of the leading Nifty 50 pack, ICICI Bank, SBIN, Maruti, and Tata Motors remained positive along with HUL. NEGATIVES When the negativity is so much, there is little to write as too many things would get listed as negatives. However, the cause of concern is that many of the scrips have been dumped by the traders and investors as if it is all over for now. The Nifty heavyweights that help the indices move up have been beaten down in the last few sessions and today was no different. Reliance, HDFC, Infosys, Kotak Bank, and HDFC Bank have all suffered. TRADING RANGE FOR 01 November 2021 The extent of volatility and the wild swings are such that I will need to give a very wide range for the indices. Nifty 17500-18000 Bank Nifty 38000-40000 INSIGHTS / OBSERVATIONS The last time Nifty opened below 18000 was on 12-10-21 and then today. The last few days witnessed wild swings in the indices. Here is my tweet which tells the story: I felt honored today as one of the readers of this post stated that I was the mouthpiece of FIIs as my post carrying EOD analysis for 28-10 indicated doom and gloom. I hope the FIIs now realize this fact and retain me officially! Today was the 3rd time in the week that just ended that the Bank Nifty range was more than 1300 points. This is quite an unusual thing to happen. It appears that the retail investors/traders are now pushing the prices down in panic mode as that is how a well-planned directional price move ends or begins. Looks like LIC of India was one of the DIIs at play as DIIs have bought 4000+ Crores. What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 29-10-21 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
90 minutes of FTSE backed sell-off spoils the recovery actNIFTY 50 EOD ANALYSIS 27-10-21 In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. The Insights & Observations section carries links to my tweets that were posted during the day related to what I could gather from the markets. O 18295.85 H 18342.05 L 18167.90 C 18210.95 EOD - -57.45 points / -0.31% India VIX = 16.83 / +0.47% SGX Nifty 26-10-21 1845h = +9 points FII DII = -1441 Crores CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty made a higher high and a higher low. Thanks to the weighted average method, Nifty managed to close above 18200. Nifty is highly vulnerable above 18300-325 band and that is triggering intense selling pressure usually after 1400h. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 36 Top 5 Draggers contributed = 83 Net = -47 POSITIVES Nifty could stretch the day high to 18342. Infosys has managed to bounce back and it is only on account of it that Nifty could hold on to the intense selling pressure. SBIN has been weathering the selling pressure well as it gets ready to receive its Q2 results next week. NEGATIVES Axis Bank fell 6%+ and that is what triggered others as well to become nervous. Reliance was looking good but came under intense pressure in the last hour or so. TCS remains subdued despite Infosys taking the lead in bouncing back. Bank Nifty ended well below 41000. TRADING RANGE FOR 28 October 2021 Nifty 17900-950 area is the support base and 18250-300-350-400 would remain as the resistance for now. I am unable to state any levels for Bank Nifty as it finds its ground in the territory above 41000. It is better to wait for the week to end before any level-based conclusions are drawn. INSIGHTS / OBSERVATIONS The insights now come in the form of tweets however Tradingview has not yet permitted me to post links to tweets or videos so I request you to visit my Twitter page or best follow me on Twitter to get updates as and when posted. What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 27-10-21 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
Nifty in catch up mode & Bank Nifty takes a breatherNIFTY 50 EOD ANALYSIS 26-10-21 In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 18154.50 H 18310.45 L 18099.30 C 18268.40 EOD - +143 points /+0.79% India VIX = 16.75 / -4.89% SGX Nifty 26-10-21 1830h = Flat FII DII = Unavailable till 1830h but likely to be net positive. CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty managed to reclaim the lost ground to some extent and closed above 18250. After a mild gap-up opening, Nifty rose sharply but failed to hold higher levels around the FIB resistance of 18250-60. It then made a 150 point downward move. It found support at 18100 and then made yet another failed attempt head higher but upon witnessing a positive FTSE open, it then rose sharply over the rest of the session and hit a high of 18310. It thus made a higher high and a higher low. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 86 Top 5 Draggers contributed = 25 Net = +61 POSITIVES Nifty made a strong recovery in the PM session and closed above 18250. Nifty managed to find good support at 18100. Despite selling pressure on account HDFC Bank and ICICI Bank, Nifty, as well as Bank Nifty, ended in the green. Reliance made a good come back which made all the difference in the sentiment. NEGATIVES HDFC Bank fell yet again as peer pressure seems to be catching up on the big bro of Bank Nifty. Infosys and TCS continue to remain weak and are witnessing selling pressure at every rise. TRADING RANGE FOR 27 October 2021 Nifty 17900-950 as the new support base and 18300-350-400 would remain as the resistance for now. I am unable to state any levels for Bank Nifty as it finds its ground in the territory above 41000. It is better to wait for the week to end before any level-based conclusions are drawn. INSIGHTS / OBSERVATIONS The insight re ICICI Bank is pasted as part of my tweet posted earlier in the evening. Here is the link -- The insight re HDFC Bank, Kotak Bank, and ICICI Bank in relation to Bank Nifty is posted here as a link to my tweet: Please visit @umeshrindani as Tradingview does not allow the pasting of links yet for me. What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 26-10-21 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
Yet again Bank Nifty rescues Nifty from free fallNIFTY 50 EOD ANALYSIS 22-10-21 In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 18230.70 H 18314.25 L 18034.25 C 18114.90 EOD - -63.20 points /-0.35% India VIX = 17.55 / -2.71% SGX Nifty 22-10-21 EOD = Flat FII DII = -1668 Corres CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty yet again underperformed and made a lower high and a lower low. Nifty is now too close to testing and or breaching 18000 line which is a big psycho level, especially on an EOD basis. Nifty on daily charts is well placed for a bounce-back as long as the recent lows are held and it keeps trading above 18100. On the weekly charts, Nifty is still bullish from a positional viewpoint. So no need to panic for the investors. All that it is doing is giving an opportunity to enter some scrips. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 30 Top 5 Draggers contributed = 51 Net = -21 POSITIVES Bank Nifty has been the single source of strength for Nifty for now. It has been able to do so as HDFC Bank, Kotak Bank, ICICI Bank and SBIN have been doing well. Ahead of its results, Reliance was a bit nervous and that is obvious. NEGATIVES Renewed negativity in Infosys is quite unnerving as it made TCS breach 3500 level as well. Now it is down 12.5% from its ATH hit in this very month! ITC has undone all the good gains that it had made. Clearly, this scrip is losing its shine. Tata Motors is having cruise control issues so it is better to be careful. TRADING RANGE FOR 25 October 2021 Nifty made sustained efforts to keep falling and it came close to 18000 make or break line. So 18000-18050 is now the new line of defense and 18200-250-300 and above are the lines of resistance Bank Nifty supports at 39000-39200 and no idea about the resistance levels as it has ended above 40000 for the day.. INSIGHTS / OBSERVATIONS Reliance did not go up as well which is unusual as it has happened in the case of TCS, HDFC Bank, and Infosys. Interesting price action on 25-10-21 in store. ICICI Bank will also react to its good results - does it break the trend of failing to hold the gap up the opening or it simply follows TCS. Wait and watch! Nifty 18000 is a crucial line and all eyes would be on the same. Generally, the tendency is to break such levels when there is optimism and then bounce back. I just read a headline stating 10-15% correction is in store if it breaks 17900. So those of us who are interested in understanding the psychology of the crowds and the traders, in particular, are likely to have a nice week full of learnings. Would we be able to earn while we learn? Well, that is the question whose answer is with each of the traders out there. ITC appears to be losing its shine and is becoming a traders’ stock as it has got itself engaged in to wild swings. What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 24-10-21 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
Reliance harmonic and elliot wave studyReliance spot cmp 2710 Harmonic + Elliot wave study Time frame :- Daily Bearish deep crab pattern formation with PRZ in range 2710-2740,, Alternate 1.618 AB= CD pattern matures around same levels.. From last 5 sessions counter is making high around 2720 levels and not able to close on higher end, Today counter gave good breakout above the consolidation of last 4 sessions but at last was not able to sustain and got sold off and again closed below 2720 levels, indicates fresh buying is missing around this levels. Counting from right to left 2 candle is long legged doji where there was indecision between bulls and bears to take the control,, Today bull took the charge but were unable to handle and landed with long tail on higher side of daily candle.. Elliot wave formation,, at the moment impulse wave 5 of major wave (3) is on verge to mature ,, if major wave (4) unfold form current levels, we may see retracement of 23.6 to 38.2% of recent swing move which may lead prices towards 2560-2480 levels. Rsi divergence observed between peak of minor wave 3 and peak of wave 5,, where prices are making higher high but RSI fails to make higher high. Reversal confirmation can be seen one last 5 sessions low is broken and sustained..
NSE:RELIANCE
by RUDRA007
1