Abhijit_Paul

Abhijit_Paul


Nifty View: Benchmark Nifty index opens strong to hit a new life in today’s session. The close however was disappointing - slipped significantly from its intraday high of 15,930 to post a close at 15,854. Under Japanese Candlestick parlance, the last two days price behaviour is termed as a “Dark Cloud Cover”. Yes, the name is a bit depressing especially for those...

Abhijit_Paul


Nifty View: A fresh positive start to July contracts as the Nifty futures inch further up with an 89 points gain on Friday’s session. On a week on week basis the index gained 191 points - a complete recovery from the recent high volatile sell-off. The index is now back to a UP trend across all time frames and good to notice participation coming in from...

Abhijit_Paul


Nifty View: Benchmark Nifty thrice over the past three trading sessions had broken above 15,800 just to slip back below at the close. Clearly, for the underlying UP trend, it has become crucial for the index to sustain above 15,800 to bring back strong bullish sentiment. Such a possibility exists for which I feel that the Private sector banks have a role to play...

Abhijit_Paul


Nifty View: Indeed it was a disappointing trading session for Bulls as the benchmark Nifty index failed to hold onto its strong opening, slipped significantly from intraday highs to close below 15,700. We were anticipating a sustained break above (15,750-15,800), which the index did break but could not sustain - a sign of selling pressure at higher levels. Now...

Abhijit_Paul


Nifty View: Nifty takes out the short term resistance zone of (15,750-15,800) in today’s opening but failed to hold onto its grounds. At a close of 15,757, the index ends significantly lower from its intraday high of 15,876. Now what? This is a precarious situation for the benchmark index as it needs to sustain the recent 2-day bounce back to be able to reach...

Abhijit_Paul


Nifty View: Benchmark index Nifty stretches itself up with today’s 52 points up move in today’s session. The state of heightened volatility continues as the index attempts to reclaim its underlying short term UP trend. We are now at a critical juncture as the index needs to deal with the immediate short term resistances of (15,750-15,800). The “Bulls” need a...

Abhijit_Paul


Nifty View: No less than a scary roller coaster ride for traders in today’s trading session as the benchmark Nifty index oscillates within a day’s range of over 300 points. Price-wise couple of things have happened. First, the short term trend of the index has turned down and we have a bounce-back in our hands now. This means early next week a failure to scale...

Abhijit_Paul


Nifty View: The “Evening Star” played out well with a sharp +100 point fall from the benchmark Nifty index in today’s trading session. At today’s low of 15,626, the index clearly has defined a short term support range for itself - (15,600-15,650). For tomorrow’s trading session, the index should hold onto this range of support and consolidate before any...

Abhijit_Paul


Nifty View: As expected today’s 100 points sell-off from the benchmark Nifty index has lead to an “Evening Star” pattern on the daily time frame. This three candlestick pattern is bearish and suggests further price weakness. A confirmation of this will come once the price breaks below today’s low of 15,766. Do not get too carried away with this bearishness as the...

Abhijit_Paul


Nifty View: Benchmark Nifty opened well in today’s session and that's all that it did. There was a dash of some intraday volatility, but overall the index faired well to hold onto the minor gap up with which it opened in today’s session. On the daily chart, we have a possibility of an “Evening Star” only and only if the index opens below 15,836 and stays below....

Abhijit_Paul


Nifty View: Quite a volatile session for the benchmark Nifty in today’s trade as the index oscillated within a day’s range of more than 200 points. The Adani group stocks related news from media and its counter news from the company led to wild swings for its stocks today which lead to some serious damage for derivatives traders. Coming back to Nifty, the index...

Abhijit_Paul


Nifty View: Fourth successive positive weekly close for the benchmark Nifty index with today’s up move. All these weeks, the index has shown fine momentum to hit a new life high and also resilience to hold onto itself at this height. Now in today’s session, we had a gap up opening, post which there was minor intraday volatility with no follow-through buying....

Abhijit_Paul


Nifty View: The benchmark Nifty index reciprocated well after yesterday’s fall with a steady 90 odd point gains in today’s trading session. It has been a stock-specific market with high-momentum moves coming in today from Financials and Real Estate. Going forward if the index has to hit a new life high then Financials & Banks will participate - stocks like HDFC...

Abhijit_Paul

Nifty View: The combination of the rising wedge and price-momentum divergence led to the sharp sell-off that we noticed in today’s trading session. Benchmark index Nifty gave away almost 100 points to slip below the rising wedge, which is evident on the intraday charts. Moving ahead there are two short term levels to keep in mind - 15,500 and 15,400. These short...

Abhijit_Paul


Nifty View: Benchmark Nifty index shows fine resilience to hold above 15,700 with a swift bounce back from the intraday low of 15,700. Now this low at 15,700 acts as the short term support and a dip below this will most likely encourage fresh selling momentum. So it’ll be advisable to stay cautious with your long positions. No doubt we are in a very strong UP...

Abhijit_Paul


Nifty View: Nifty index continues to rally further up with a 84-points up move in today’s trading session. The index has shown strong resilience since it paved its way to a new life high - this is a sign of strength. No doubt about this strength, but it's the underlying momentum that is slowing down. Price-momentum divergences coupled with a rising wedge pattern...

Abhijit_Paul


Nifty View: Two consecutive narrow ranged trading sessions from the benchmark Nifty index to mark the end of the week’s trade. The recent rally has been impressive both in terms of participation and momentum which has taken the index to a new life high. But going ahead it’ll be prudent to be a little cautious than what we were three weeks back. We have some...

Abhijit_Paul


Nifty View: Nifty continues north with a nice gap up in today’s trading session - a gain of close to 100 points to post a close at 15,718. On its way up, the index did prove its erstwhile swing highs as a fine source of support at (15,600-15,650). This 50 points zone works as the immediate short term support for the index now. We have an intermediate price...