PromodSshrivastava

PromodSshrivastava

Bank nifty made a big red bearish candle today but did now breach yesterdays'low--which is a big positive given there was a gap up opening yesterday. So the gap will act as a support in case there is further move downwards. Banknifty made a close above 50/100/200EMAs for third consecutive trading session....which is again adds to strength. FIIs and DIIs were both...

PromodSshrivastava

Nifty paused after the fantastic bull move in the last two trading sessions. Today it tried valiantly to cross yesterday's high and then fought to sustain above critical level of 18000. Positive news is that yesterdays' low was intact by a wide margin. PCR at 0.92 contra indicates that there is now ample room for up move before a correction. VIX went up slightly ...

PromodSshrivastava

Banknifty made a massive green followup candle and sustained a big gap up too. FII/DII net purchase of 2827cr propelled the markets to unexpected levels. Big news is that it sustained above the 50/100/200EMA level that it breached after 30 trading sessions yesterday. Vix at 17.9 is attracting long term investment. PCR at 1.5 contra indicates a correction...lets...

PromodSshrivastava

Nifty made a bullish engulfing candle yesterday and followed it up with a big green candle today closing above the resistance comfortably--sustaining a big gap up opening. Tomorrow another gap up opening is likely looking at sgx nifty at this time. FII and DII together bought for 2827cr driving the market higher. PCR at 1.27 contra indicates a correction. CPR is...

PromodSshrivastava

banknifty is looking extremely positive now that it has closed above 50/100/200EMAs on the daily chart after 30 trading sessions. PCR is overbought, so some minor correction could follow, however the large bullish candle could see a followup on Monday. Vix is at 18.435, so long term investment money is likely to start flowing in. CPR is wide so we could see some...

PromodSshrivastava

Nifty reached 17670 resistance and closed right on the resistance last week. PCR is 1.19 nearing overbought, FIIs bought for unprecedented 1910cr- probably covering shorts? Important ot watch if 17670 level is sustained/breached on Monday, if breached then 18000 level will come quite quickly. Vix has fallen to 18.43, coming below 20 after a long time. This could...

PromodSshrivastava

Banknifty made a red candle though it closed above yesterdays level. It took resistance at 100EMA-while trading above 50/200EMAs so the chart is still not clearly into a bullish trend. Some more downside correction may be coming as it made a red candle despite some heavy buying by FII 3088cr and DII 1145cr total net buying of 4234cr. CPR is narrow so we could have...

PromodSshrivastava

Nifty is trading above 50/100/200EMAs. Today it closed below yesterdays level despite some fervant buy support from both FII 3088cr and DII 1145cr total 4234 cr net buying. CPR tomorrow is narrow so a trending day is expected. Crude has dropped again to 108USD levels and VIX is marginally above 20. So we could still see some choppiness and consolidation, profit...

PromodSshrivastava

Nifty is still stuck inside a band around 17200-300 . Only when it gathers strength to break out beyond 17450 can we see it move to the next logical resistance level of 17670. Today despite net buying by both FII & DII -total 1749cr and sharp decline in crude oil prices, we didnt see the desired breakout above 17450 in Nifty. So will todays bullish candle be...

PromodSshrivastava

Banknifty was supported today by 1/ steep fall in crude oil futures 2/ FII and DII both net buyers. and wide CPR support. Still it was unable to close above the 200EMA. this is the 4th consecutive day close below 200EMA indicates reduced strength of the chart. CPR is narrow tomorrow and a trending day is expected. Banknifty may not have the momentum to go on,...

PromodSshrivastava

banknifty made a strong bullish candle today taking support as per our forecast at 35k level. PCR is 0.78 and CPR is wide indicating a strong downside support. Any gap up has a good chance of sustaining. So there is a good chance of breach of 36k level onwards to 36250. FIIs selling is less with FII/DII net buying at 360cr, Crude prices continue to drop---all...

PromodSshrivastava

Nifty made a bullish hammer pattern and closed above 50/100/200EMA. Even though the close is in the 17200 area which is the place of consolidation for past 6-7 sessions, the setup is now quite bullish. There was net buying by FII/DII of 360cr. PCR is 0.8 indicates lesser fear of more downside. VIX has settled lower at 22.61. So will we finally witness a breakout...

PromodSshrivastava

Banknifty has made a break downwards and is trading below 50/100/200EMAs which makes the chart look quite weak. FIIs sold for almost 47k cr this month, putting banknifty under tremendous pressure. Crude oil again has crossed 120USD level. CPR is narrow so a trending market is expected tomorrow. Gap up may not be sustained under such sentiments. What do you think?

PromodSshrivastava

Previous 6 trading sessions were consolidation moves around the 17200level. It has consolidated above 50/100/200EMA levels. CPR is narrow so a trending day is expected. So a breakout above this level will take nifty to 17670. Crude has again gone up to 120USD levels and ukraine issue remains unresolved, both could be bad news for the market. Also FIIs have sold...

PromodSshrivastava

banknifty was unable to hold above 36300 after trading around this level for past 4 trading sessions finally breaking down today to make a bearish candle indicating further fall is imminent. Likely support is 35000 which could be tested tomorrow. Crude decline could arrest some of the inflationary fears and could create a positive impact on banknifty. We can only...

PromodSshrivastava

Nifty has consolidated for past five trading sessions around 17200, closing just below R3 resistance. A gap up is indicated tomorrow so R3 will act as a support. Other supporting factors are --Drop in Crude prices below 120 levels, Continued buying support of FIIs (if you exclude kotak block deal of 5000cr) and DIIs today. 350cr net buying today (despite block...

PromodSshrivastava

Banknifty made a big red candle but took support of 200EMA and closed above it. This is a positive sign. Will the market find momentum to trade towards R3 level 37425, remains to be seen tomorrow. Another positive sign is FIIs continued buying. On the negative side global markets and ukraine issue are on top. Another issue is crude prices which are back above...

PromodSshrivastava

Nifty consolidated for yet another day in a narrow range....will we be able to witness a breakout from these levels? Maybe tomorrow or on Friday. Vix has increased to 24.75 so volatility will continue. PCR has fallen sharply to 0.55 which contra indicates a rally. If the rally challenges 17300, we could see a rally to cover shorts. R4 level could be in play...