Abhijit_Paul

Abhijit_Paul

The BankNifty on the daily charts has closed the erstwhile rising gap with a recent falling gap. In the last five trading sessions, the index is down close to 5% with a proper sequence of lower low and lower high. Looking at this recent sell-off, it seems like we are all set for a re-test of a broad support zone within (49,600-50,400) marked by the blue box....

Abhijit_Paul

Insurance stocks have recently performed well. During one of our MasterClass sessions, we identified HDFCLIFE, which is paying off well so far. But the stock is also clearly headed for crucial resistances that had kept it down. Here are my thoughts - 1. I have used simple demand & supply zones, anchored VWAP and Volume Profile to analyse the weekly chart of...

Abhijit_Paul

The weekly chart of NYKAA is shaping up interesting. The first thing that'll strike you is that it has been a BIG under-performer, significantly below its all-time high and still struggling. We may be heading for some better times. Here are my thoughts - 1. The stock bottomed out in May 2023 and has since managed a multi-leg shallow rally. An important day was 8...

Abhijit_Paul

I was taking a look at the ratio charts of sectoral indices to identify which sector though is going up but in relative terms is slowing down. The one that looked the cleanest is that of CNXAUTO. 1. On the LHS, we have the daily chart of CNXAUTO and on RHS a ratio chart of the AUTO index with CNX500. 2. One look at the blue and red zone, and you can see that...

Abhijit_Paul

This is the 75min chart of CNXIT, which clearly shows how it has created a well-defined resistance (marked buy red zone). Now after yesterday’s show of strength, suddenly today the entire pack has opened weak and so far is staying down. There is an erstwhile rising gap which can act as some source of support and so if the index retests this gap it’ll lead to some...

Abhijit_Paul

HINDALCO is knocking very important levels. It's a make-or-break situation for the stock as it deals with the immediate resistance zone of (413-416). This zone has been proven support before, and recently we have seen a high-volume retest of these levels, which means supply is slowly getting tested and hopefully exhausted. Volume profile too clearly suggests that...

Abhijit_Paul

A clear sign of accumulation at lower levels for DIXON which has lead to the formation of a strong support. A move above 3630 should bring in fresh buying impetus and for such a trade one should use a stop loss at 3450.

10:06

Abhijit_Paul


Nifty View: Finally, some bounce back to cheer the bulls in today's trading session. The Nifty index gained 139 points to post a close at 16,012. We were anticipating this move, and it's good to realise that the index is behaving precisely in that manner. As we advance, we can expect an extension of today's rally for a retest of (16,150-16,250), which are the...

08:55

Abhijit_Paul


Nifty View: The underlying downtrend extends further with today's +300 points negative move from the Nifty index. It could have been worse, but the index managed a decent bounce back from its intraday low of 15,711. The trend is down, and the selling momentum has picked up, but taking a closer look at today's correction suggests that there is a possibility of a...

13:41

Abhijit_Paul


Nifty View: Nifty loses another 100 points in today's trading session to post a close at 16,505. Some degree of intraday volatility was observed, especially at the final hour of the day's trade, which is attributed to the expiry of weekly derivative contracts. No change to the underlying trend, which stays down with negative sentiment and selling pressure. As...

10:58

Abhijit_Paul


Nifty View: Nifty loses 180 points in today's session to post a close at 16,613. We did notice some bounce back in the final hour of the day's trade which led to a "Spinning Top" candlestick pattern on the daily chart. There is no structural change to the overall market, which is still in a downtrend trend with momentum support. An extension of today's last hour...

13:30

Abhijit_Paul


Nifty View: A very big breakdown for the Nifty index in today's trading session as it lost over 800 points to post a close at 16,247. It was a big gap down, and throughout the day's trade, the index did not offer any significant signs of recovery. Needless to say, a majority of the stocks and sectors closed deep in the red territory losing anything between 5-10%....

10:19

Abhijit_Paul

Nifty View: Disappointing close from the Nifty index in today's trade as it slipped over 150 points from its intraday high of 17,218 to manage to close marginally above the psychological 17K mark. The index failed to hold on to its early gains and continues to stay in a downtrend across the short-term and intermediate timeframe. Sectoral indices were nicely...

11:32

Abhijit_Paul

Nifty View: Yet another volatile trading session for the benchmark Nifty index today, as the index gapped down and fell more than 300 points, to bounce back in the late afternoon and close the day with a loss of just 131 points. The market is reactive in nature now, and equity as an asset class globally is going through a similar correction. At today's lows, the...

08:22

Abhijit_Paul

Nifty View: Some severe volatility from the Nifty on the very first day of this week – the index oscillated within a wide range of more than 250 points in today's session to post a close at 17,208, a day's loss of 69 points. The fact that it closed negative is not a surprise as the underlying trend is down, but it was the degree of intraday volatility that was...

11:11

Abhijit_Paul

Nifty View: In today's trading session, banking stocks were the culprit as the Nifty index lost close to 50 points to post a close at 17,266. The underlying trend of the Nifty is still very much down, and after today's negative close, it has confirmed a lower high and lower low on the daily timeframe - this means that the probability of the downside is marginally...

11:43

Abhijit_Paul


Nifty View: Flat close for the Nifty index in today's trading session - at a close of 17,317, the index lost just 43 points on a day on the basis. We see this as a sign of consolidation, especially after the recent wild price oscillation. It was good to notice that the Nifty and BankNifty indices reacted today from our anticipated resistance zones. Also, from now...

08:53

Abhijit_Paul

Nifty View: In today's trading session, it was a big 500+ points recovery from the Nifty benchmark index. This brings in a lot of volatility to the overall market conditions considering that the index had lost over 500 points in yesterday's trade. Nevertheless, even after today's bounce back, the underlying short-term and intermediate trend of the index is still...