MarketsWithKR

08:59

MarketsWithKR

#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...

08:34

MarketsWithKR

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....

MarketsWithKR

Looking at the sectoral charts on the monthly timeframe highlighted to me how NSE:CNXREALTY was one of the only sectors that hadn't broken out yet or weren't hanging in the air. Sure, it's still testing the highs, but I felt I'd look at a few major Realty stocks just to see how they're placed on the M charts. Snapshots of the charts can be found in the...

09:51

MarketsWithKR

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...

09:56

MarketsWithKR

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,...

MarketsWithKR

NSE:EICHERMOT is retesting its breakout zone with RSI at 60 and support at 13DMA (not pictured here). FIB extension targets are highlighted. First resistance can be 2800 (also happens to be 23.6% FIB). A few auto stocks seem to be in momentum and have retraced so the sector seems to be in a good mood, too. If we observe, Eicher had formed an H&S, took support...

09:19

MarketsWithKR

#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...

MarketsWithKR Updated 

NSE:LINCOLN retraced till 23.6% FIB level and appears to be taking support now. RSI has also bounced up from 40 and is now above 50, aka in the bullish bias zone. Interestingly, the support zone is right at a previous high. Risk is limited as a failure to hold the 23.6% level or the previous high can negate the view. The pharma index, NSE:CNXPHARMA , saw good...

08:46

MarketsWithKR

#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...

MarketsWithKR Updated 

Experimenting with Bollinger Bands here. We can see that price has closed above the UB and the bands have started to expand. With RSI just under 60 and price a smudge under 50DMA, NSE:BANDHANBNK could be a good momentum pick. Tomorrow's price action might validate the idea and give confirmation. Given that this trade is based on momentum, an SL below today's...

05:40

MarketsWithKR

Despite the lack of momentum in the first half, the markets were able to recover, with Nifty nearly touching 15,700. Banknifty showed strength, too As an option buyer, if you were able to manage the first half well (by either scalping or not trading), you could have entered using a simple setup in the second half to capture the rally. Overall, choppiness seemed...

05:33

MarketsWithKR

Despite the weak open, the markets were able to recover in the second half, with Nifty nearly touching 15,600. While the short-term trend still appears bullish to me, we have seen a bit of consolidation of sideways correction after a fresh ATH is made before the next leg of the rally. Open interest data appears to have a bullish bias as of today's closing, but a...

05:25

MarketsWithKR

The markets saw a little weakness post a dream run even though Nifty tested 15,600 levels. While the short-term trend still appears bullish to me, we have seen a bit of consolidation of sideways correction after a fresh ATH is made before the next leg of the rally. Open interest data appears to have a bullish bias as of today's closing, but a lot can change...

05:11

MarketsWithKR

Nifty saw yet another strong day, closing well above 15,500 and nearly testing 15,600 levels. Banknifty trend appears bullish too, even though it's still 5.7% away from its ATH. But that might mean that BNF can play catch-up very soon. Nifty creating yet another high and closing above the 15.5k mark is a very bullish sign, but in the past, we have seen a...