PromodSshrivastava

PromodSshrivastava

Nifty has crawled up to fill the gap--shorts out of the way, FII's preparing to wreck havoc now? Market lacks momentum to cross and sustain above 16300. Global worries on OIL etc remain. Ukraine showing some stand down on their rigid position--may be too little too late. Long consolidation within a range since morning--a sell off could make a breakdown and a...

PromodSshrivastava

banknifty closed witha n impressive green candle --despite a choppy & volatile rollercoaster day-making a strong rally in the closing hour. The rally was driven by short covering? Global cues were hardly reassuring. Oil is likely to wreak havoc. Everyone is hoping for a resolution soon otherwise 28805 will be in reckoning soon. FII sold for 8143cr ---taking their...

PromodSshrivastava

Nifty made a frantic cover of shorts in the closing hours today. Global cues remained worrisome with crude expected to go through the roof unless ukraine issue gets resolved and restrictions on Russia are lifted soon. Some gap was covered but 16011 remains a critical level to watch. below it will indicate more weakness till 14415 and above it 16200-250 will be a...

PromodSshrivastava

banknifty breached the 100EMA on weekly charts, is already trading well below 50/100/200EMA on daily charts. PCR is 0.36 indicating extreme fear and aversion to risk the downside. Good news can trigger a recovery but it could lead to fresh offloading. Crude prices and currency are adding to the worries. CPR is narrow and a trending day is expected. Next support...

PromodSshrivastava

Nifty has broken fibonacci retracement level of 16011 is broken and nifty closed with a Doji candle. VIX again shot to 29.33 indicating high volatility and increased uncertainty. PCR is 0.36 and contra indicates a strong pullback. Any positive news could trigger a breakout. However the charts are now in very weak zone and should continue to trend towards next fib...

PromodSshrivastava

banknifty is trading below 50/100/200EMA level and looking extremely weak. Last week it has taken support at a critical support level from which there was a recovery earlier. Given PCR 0.57 there is contra indication of a pullback. Will banknifty do a pullback tomorrow? Looks likely that the next support level of 32143 will be tested. Market will remain news...

PromodSshrivastava

Nifty broke a critical Camarilla S3 support level 16341 and closed with a bearish candle last week. 16341 will be acting as a resistance in case there is a good news driven rally upwards. Next support as per fibonacci retracement is at 16011, if this is broken then we are looking at 14415. Clearly 16431 was the point of support and return which has now been...

PromodSshrivastava

banknifty made a large red candle making a bearish candle setup. PCR is 0.48 contra indicates a pullback however the continued FII selling indicates we a re yet to reach the bottom. VIX remains high at 28.155 . Markets remain nervous with lower GDP estimates and fear of impact of high crude prices. Ukraine issue has been factored in but continues to be a worry...

PromodSshrivastava

Nifty made a big red candle, bearish engulfing setup - confirming the deteriorating chart. PCR is 0.55, VIX is 28.155 remains very high and volatility and nervousness continues. In the basense of comfort on the ukraine situation , high inflation, lower GDP and skyrocketing crude oil--it is unlikely to see any big pullback even though PCR contra indicates a...

PromodSshrivastava

banknifty closed with a doji candle but remained well below the 50/100/200EMAs. PCR at 0.57 indicates fear of downside. VIx remains high and market remained nervous on global news. FII /DIIs remained net sellers at 1277cr and if the situation doesn't improve, can bring in further downside. Rise in crude prices, lower GDP prediction for India and global news are...

PromodSshrivastava

Nifty made a Doji candle and also an inside bar setup. Nifty also closed below 50/100/200EMA. PCR at 0.57 indicates fear of the downside. Vix at 29.23 indicates nervousness continues. Till the global uncertainty is settled, index will move violently and will lack strength to move decisively. News will be the major trigger. Nifty should tread lower and levels...

PromodSshrivastava

Banknifty closed above critical support level camarilla s4 while taking resistance at 200EMA. Green candle makes the chart look stronger than previous week. CPR will be immediate support on the downside at 36117, if this support holds we could see banknifty closing the gap tomorrow. Global uncertainty and news based moves are going to be a big factor nonetheless....

PromodSshrivastava

Nifty made a big green bullish candle engulfing the previous day's candle- also breached and closed above 200EMA. 16900 will be a key hurdle while CPR will provide downside support. FII/DII were net buyers by 194cr, should we see resumption of buying then Nifty will certainly sustain above current close. Vix remains quite high at 28.57 which will continue to make...

PromodSshrivastava

banknifty weekly close was the lowest in 8 consecutive weeks. There is a sharp pullback from the lows this week and yet it closed at 36431. Institutions we re net sellers on friday by 152cr and also for most of the week. Sentiments remain worrisome and VIX remains high at 26.74. Markets have taken resistance at camarilla pivot R3 and have been moving towards S3...

PromodSshrivastava

On daily charts, nifty is trading below 50/100/200EMAs. On weekly charts it made a huge bearish red candle and closed below levels not seen in 27weeks. On the positive side, it is yet to breach the 50EMA on the weekly charts. Vix dropped to 26.74 but still remains high. We witnessed a dramatic pullback on friday despite net selling by the institutions(152cr net...

PromodSshrivastava

VIX is at 31.98 increasing by 30% so the pain is certainly not over yet. Supports have melted away --200EMA support didnt hold for even a minute and just fell by the wayside. On weekly chart 50EMA was broken with a strong red candle. Will 100EMA give some support on weekly chart? What do you think?

PromodSshrivastava

Nifty left a major gap as it opened gap down and continued the down move. 50EMA was breached on weekly charts and 200EMA offered no support on the daily chart. DIIs bought for 7668cr compared to selling of 6448cr by FIIs. PCR for next week expiry at 0.46 contra indicates an upmove but vix shot up to 31.98 ---news could trigger another downslide. Huge red...

PromodSshrivastava

banknifty lost all the strength to some agressive selling by FIIs 3417cr, compared to 3024cr bought by DIIs--who tried to hold market up through most of the day. Sentiments are clearly bearish given the global situation and DIIs will not be able to hold on for long given the FII aggression. PCR at 0.73 indicates fear of more downside. VIX came down but still...