PromodSshrivastava

PromodSshrivastava

NIfty has taken support of CPR multiple times today and bounced back. As long as Banknifty is stuck below resistance (pls refer my post on Bank Nifty), Nifty will also be slow in breaking away. Nifty had taken support yesterday at 20EMA, that seems to be holding fine. Whats your take?

PromodSshrivastava

So when it does break CPR resistance (likely- narrow CPR today- usually not considered a strong one, so lets see if it can be breached). Or if it doesnt, likely to make new lows. For bank nifty level calculations pls check my twitter.

PromodSshrivastava

NIfty had a great run of green candles for 5 straight days folllowed by a doji pause, followed for past 5 days by red candles ..... it has taken support at 20EMA today. Just around the same level is the critical support of 17,944 - will Nifty be able to hold off that level tomorrow? Hope it takes support and banks carry the index tomorrow as well. Source of...

PromodSshrivastava

Supersonic speed of Bank Nifty on pathway to 42198. (check my twitter for bank nifty and nifty forecast calculations) Enough support levels below current levels. Put call ratio skewed towards PUTS - understandably so, everyone is getting out of the flightpath out of fear of being run over! Well do you see it landing anytime soon?

PromodSshrivastava

On the downside, Nifty might breach 18000 levels (provided banks cool down in later half of the day). No source of energy in Nifty except banks. Likely to test 17914 - Check forecast level calculations for nifty on my twitter. Do you also see Nifty cooling down?

PromodSshrivastava

Bank Nifty backed by rally in ICICI and Axis .... and now 4 more banks... crossed 40769 and 41305 with relative ease. With 41305 as base, it is eyeing next target 42366 (ref my twitter for bank nifty forecast calculations)...will it go there soon? What do you think?

PromodSshrivastava

Nifty has a small gap to be filled. But importantly, there is a strong support of Virgin CPR and a support at 17,944 (see purple line). Once breached, there are plenty of virgin CPR as critical areas. Nifty chart is bearish but has strong supports just below it. Will Nifty break supports and continue downwards or will it take support & reverse ....Let us see what...

PromodSshrivastava

Flight of Bank Nifty continues unabated with seemingly flawless chart indicating super strength. Plenty of Virgin CPRs left behind (will provide support when the price tries to trend downwards. And of course it left one GAP - let us see when it gets filled and the dream run corrects.

PromodSshrivastava

Nifty is riding an uptrend. How long will it sustain?

PromodSshrivastava

BN within a channel, tried to break out. Lets see when it happens.

PromodSshrivastava

If BN sustains todays gains, then the only way ahead is UP!

PromodSshrivastava

Nifty was on a dreamliner leaving gaps behind. This 'gap' will probably be filled tomorrow. Do you feel the same way?

PromodSshrivastava

Thursday 21 Oct is weekly options expiry -option chain indicates expiry at 39500 level. Will 39500 level hold for expiry? Maybe not...Likely BN will take the path in yellow. Lets see. What do you foresee? Let us see how the markets unfold tomorrow.

PromodSshrivastava

Bank Nifty unable to breach CPR and unless it does so today, it will remain within the channel. What do you think?

PromodSshrivastava

Bank nifty unable to breach CPR in upwards move today. If it stays below TC CPR, likely will go down the parallel channel. What do you think?