Abhijit_Paul

Abhijit_Paul

Nifty View: Now this is getting difficult for short term traders as the benchmark Nifty index reacts sharply on the downside today after the recent sharp high-momentum rally. At the end, the index did manage to hold itself above the psychological 15K mark, but it’s the confidence in the underlying trend which is now heavily questionable. In these kind of...

Abhijit_Paul

Nifty View: Cracker of an up move from benchmark Nifty index in today’s session. Not only did the index break above psychological 15K mark, but it extended way further ahead and posted a confirmed confident close near 15,300. We now have a reversal of the short term trend on the upside. Recently we have noticed frequent reversal of this underlying trend due to the...

Abhijit_Paul

Nifty View: A fine follow through up move from the benchmark Nifty index in today’s session. This brings in some degree of confidence in the bounce and high probability that the index will take out the psychological 15K mark soon. Now sustaining above 15K can be a little tricky as there are multiple resistances moving ahead. At the current close, the index has...

Abhijit_Paul

Nifty View: An “Inside Bar” for the benchmark Nifty index in today’s session. This is a consolidation post the sharp sell-off which we noticed on Friday. Today’s gain is promising with participation coming in from mid and small caps, but its the sustenance of this bounce back which is now more important. A move above today’s high will definitely see some more...

Abhijit_Paul

Nifty View: A volatile trading session for the benchmark Nifty in today’s trade. The index did face some stiff resistance as it tried to hold above 15,150. A look at the 15min chart of the index and you will notice a clear band of supply at around (15,150-15,200). The index needs to take this zone out for confirmation of the fresh UP trend. On the downside, of...

Abhijit_Paul

Nifty View: An eventful day for the Indian Equity markets with the data outage from NSE - the largest exchange in the world in terms of derivatives volumes. In terms of price, the index managed a bounce back to post a close just a tease below the psychological 15k mark. There was a freak trade at 15,524 which we will not pay much importance to going ahead in our...

Abhijit_Paul

Nifty View: Volatility makes a come back as the benchmark Nifty oscillates sharp within today’s session. No doubt that the underlying trend of the index is now DOWN and as long as the psychological level of 15K is not taken out, sentiment is likely to stay muted. As suggested before, it’s time to be a little cautious and not chase or trade aggressively. A break...

Abhijit_Paul

Nifty View: Benchmark Nifty sells off one way without any sign of intra-day bounce back in today’s session. At a close of 14,640 it was a weak end to the index at the lowest point of the day’s trade. This reverses the short-term trend down and that too with high momentum and across-the-board selling. Break below the psychological level of 15,000 induces fresh...

Abhijit_Paul

Nifty View: Benchmark Nifty continues to slip further as the index closed below the red rising channel which we’ve been observing for past few sessions. This short term correction has not made any significant damage to the underlying trend yet, but it has got the index down to very interesting deciding levels. At the current juncture, the index is at 15,100...

Abhijit_Paul

Nifty View: Benchmark Nifty loses further grounds in today’s session to post a close below 15,200. The index is now at the lower border of the red rising channel which we have been talking about for few days. Yes, there was some degree of intra day volatility in today’s session, but at the close it was a weak close towards the lowest point of the session’s trade....

Abhijit_Paul

Nifty View: Benchmark Nifty reacts from the upper border of our red rising channel as shown on the 75min chart. The index failed to hold on to the early gains which lead to a slip from the day’s high and some degree of intraday volatility. On the daily charts according to the Japanese Candlestick parlance, we have a beautiful “Spinning Top”. This pattern...

Abhijit_Paul

Nifty View: High momentum positive start to the week as Nifty surges further ahead towards 15,400. Today’s move was banking & financial heavy as the BankNifty index gained over 3.5% for the day. A look at the 75min chart of Nifty, and we can observe the index inching close to the upper border of the red rising channel at 15,400. Considering the underlying momentum...

Abhijit_Paul

Consolidation with a mix of mild intra-day volatility is what the benchmark Nifty has been going through for past 5-6 trading sessions now. It seems the index is buying time and not willing to come down for which good help came in from good old friend Reliance Industries. But the overall breadth of the market has been questionable with the key sector like banking...

Abhijit_Paul

Index posts another positive daily close today alright but it was majorly contributed by only one stock - Reliance Inds. This index heavyweight gained over 4% today to help the index gain grounds on a day when majority of the banking and financial market stocks were down. So we should not get carried away by today’s positive move and should consider it with a...

Abhijit_Paul

Nifty View: Volatility makes a come-back as the Nifty index slipped to temporarily break below the psychological 15K mark. There exists a rising gap at 15,000 in the 75min chart of the index and this gap proved itself well as a short term source of support. Now moving ahead, this 15k mark is going to act as a trigger for fresh price weakness. And on the upside if...

Abhijit_Paul

Nifty View: The range of resistance within (15,200-15,300) proves itself in today’s session. Benchmark Nifty with many sectoral indices did slip ⛷quite a bit from their respective intra-day highs. Do not consider this as a trend reversal yet, as the underlying trend of the index is very much UP ⬆️ and intact. Intermediate divergence is prevailing between price and...

Abhijit_Paul

Buying momentum continues as the benchmark Nifty rally further with yet another daily positive close. Recently I had flagged off possibilities of consolidation due to divergences across multiple time frames … well, that’s behind us now. The index is now at the upper border of a rising channel wherein resistances can be expected from the zone of (15,200-15,300)....

Abhijit_Paul

Thanks to banking stocks and especially SBIN, the benchmark Nifty posts fourth consecutive positive daily close. Targets/ resistances from one of the rising channel's upper border at 14,900 is now taken care and if this kind of momentum continues then we should be headed towards (15,200-15,300). But there is a little element of caution we should pay attention to....