PromodSshrivastava

PromodSshrivastava

Nifty has fallen below the 20EMA however it seems to be still having a strong uptrend bias. The move up within the channel remains intact. With FII/DII net sellers, will we be able to witness an up-move tomorrow? Bank Nifty rally will hold the key as well.

PromodSshrivastava

Bank Nifty broke the 50EMA level today. If there is a gap up tomorrow and prices sustain- with bank nifty taking support at this level- then we might see revival of the uptrend. More likely is to see in the next few trading sessions, the selling pressure taking bank nifty down to camarilla support 37,760 -if this level is breached, then next support is at 36,397....

PromodSshrivastava

Nifty has witnessed a consolidation around the 18k levels, retracements /pullbacks. We can see couple of more sessions of dips before it continues the uptrend. On weekly charts, Nifty remains well above 8EMA- extremely bullish range.

PromodSshrivastava

Rejection from higher levels as Bank Nifty closed in Red. Expect a downward trend to continue tomorrow as Banknifty could open inside the CPR and struggle to break away. Breakdown will open much lower levels with a sharp downward move.

PromodSshrivastava

Nifty -gap up opening indicated for tomorrow. Nifty should open above CPR. If it takes support and sustains above CPR - FII & DIIs are both net buyers, so we should expect uptrend. Inside the up-trending channel, we can see Nifty closing in the positive zone. PCR is 0.8 which is lower than yesterday, if Nifty flies then call writers at 18200/300 might have to...

PromodSshrivastava

Bank Nifty -1. Taken support of 50EMA. 2. Has made an inside bar. The short corrective move has taken place. From the broader market perspective, Nifty has already shown upward momentum. So Bank Nifty should follow? We need to watch today's moves. FIIs have started buying again, so that is certainly one more thing that will puch Bank Nifty back to upward trend....

PromodSshrivastava

Nifty has taken an upward trend after taking support at 50 EMA a few trading sessions back. Two factors to watch out for- FII are buying now, so it is supportive of Nifty. Also, Bank Nifty is poised to break away after a pullback- if it happens, then Nifty might see the momentum continue. Let's see if it happens today!

PromodSshrivastava

Nifty breaks below 20EMA..again..indicating the downtrend is confirmed....almost. Will Nifty surprise us with a quick pull back or will it follow the downtrend as shown in the chart. Tomorrow's close below 20EMA should confirm the downtrend or not..

PromodSshrivastava

Bank Nifty weekly takes support at 13EMA. Daily chart takes support at 50EMA...has breached 20EMA clear. 38400 is a critical support, pullback if it sustains above 38400, breakdown to lower levels otherwise. Let us hope there is a pullback tomorrow!

PromodSshrivastava

Nifty has taken support of 20EMA and has closed above 13EMA. Positive signs of revival of uptrend from the current charts. Let us see if the small gap down opening doesn't sustain & is reversed soon today...any trend after consolidation will give a sharp move (up or down). Or will Nifty consolidate a bit longer...what do you think?

PromodSshrivastava

Bank Nifty closed below 20EMA yesterday. It struggled to clear 39075 - so that is a level to watch out today also- will bank nifty sustain above this level after a small gap up opening? Once Bank Nifty opens inside the narrow CPR, a breakout or break down are both a possibility-once the BC/TC are breached. Narrow CPR also indicates a trending day. There is chance...

PromodSshrivastava

Bank Nifty possibility of bullish uptrend only if it breaches the purple line.....39075 ...then it can trend to the day high level. The greater chance could be that it will revisit and try to break the low of the day.(Initial balance highs and lows- IBH/IBL crucial ranges to watch). Let us see which way it goes.

PromodSshrivastava

Bank Nifty getting squeezed inside the triangle....big breakout or breakdown....which way?

PromodSshrivastava

Bank Nifty has traded below 13EMA again and closed today below 20EMA. Unless it gathers momentum to breach 20EMA, there is only one way forward...down!

PromodSshrivastava

After a defining close above the 20EMA yesterday ... Again today Nifty closed comfortably above the 20EMA taking support at R3 camarilla. From here Nifty outlook seems bullish, maybe after a short consolidation.

PromodSshrivastava

Well and truly on its way with a clear decisive close above 20EMA today. Bullish candle formation. Unless the FII's have a plan to play spoilsport, the charts are well behind a bullish revival in Nifty. Let us see how far the rocket goes.

PromodSshrivastava

Bank Nifty is struggling to keep its head above 13 EMA. Tried and then got pulled down emphatically. Prospects look bleak unless Bank Nifty closes decisively above the 13EMA otherwise we will see a continued downtrend with brief period of consolidation.

PromodSshrivastava

Nifty has struggled to breach the moving averages (13EMA/20EMA) for five straight trading sessions.(including the thursday muhurat trading session). With the selling pressure from FPI/FII resuming, will it have the strength to break out today? Let us hope to see that breakout today. The pattern is inside bar, so today should be a trending/volatile day. Let's see.