PromodSshrivastava

PromodSshrivastava

nifty came under a late selling pressure of FIIs to close just above 17k. However, we could see that DIIs propped up the market sentiment through the day buying 3024cr, while FII sold for 3417cr-- a 393cr net selling proving too much for a jittery market -erased all the gains. PCR at 0.73 is probably a reflection of winding up of put writers as the markets came...

PromodSshrivastava

banknifty closed below the 100EMA indicating fresh weakness, despite making a large green candle. Close for previous 5 sessions was above 100EMA. Much of the pullback was thanks to DII buying for a whooping 4109cr, compared to FII selling of 3246cr. Looks unlikely that the DIIs will be able to support the market if the sentiments do not improve. VIX at 26.7 is...

PromodSshrivastava

Nifty made a fantastic rally due to spirited buying by DIIs-4100cr, compared to selling by FIIs for 3246cr. Will DIIs be able to support the market tomorrow again? Global sentiments will again dictate much of what happens tomorrow. Its an inside bar candle on weekly chart and a breakdown is likely given that the vix is at 26.7 and markets are clearly unsettled....

PromodSshrivastava

banknifty made a green bullish candle and closed higher than previous week close. Despite the global uncertainty the index has held on to its level and managed a gain. PCR at 1.02 reflects the sentiment. CPR tomorrow is 54pts and indicates a trending day. India vix shot up to 22.9. Attention to news will be most critical driver till the uncertainty remains....

PromodSshrivastava

Nifty held on to 17200 levels in an uncertain global situation. On the downside, 16850 is a major support level and chart will start to look bad once it is broken. On weekly chart, nifty has made an inside doji candle. Indecisiveness is palpable and so a breakout/breakdown on either side is possible according to the news. At a broad level, nifty continues to trade...

PromodSshrivastava

banknifty made a doji last week -indecisive candle. Could be seen as a positive as it withstood the fear and uncertainty without losing much ground at all. In fact this week doji is a mirror image of doji candle 4wks back. PCR is 0.86 quite balanced considering the global sentiments. CPR is narrow at 26pts so a trending day could be expected. With price well...

PromodSshrivastava

Nifty consolidated and moved within a range last week. It finally closed the week well above 17250. Weekly candle is green. PCR at 0.93 is balanced. News triggers could still lead to down moves but underlying trend remains bullish. CPR is just 16pts wide indicates a trending market. Given global uncertainty, wait & watch for market to reveal its reaction could be...

PromodSshrivastava

banknifty closed below 50EMA with a red bearish candle. FII/DII were net sellers again at 341cr. PCR for next week expiry is 0.76. CPR tomorrow is 162 which is relatively narrow given the volatile moves of the index so expect a trending market. Global sentiments are the key market mover with nervousness all around. More downside is tough to rule out. What do you think?

PromodSshrivastava

Nifty closed below 100EMA once again for the fourth consecutive day. FII/DII were net sellers at 341cr. PCR for next week expiry is 1.03 . CPR tomorrow is 24pts wide, so a trending market is probable. Global cues are still making the market uncomfortable and is the dominant factor. Expect further downside with selling on rise rampant as people move to cash and...

PromodSshrivastava

CPR is narrow at 106pts with resistance between 38007 - 38112, expect a trending market tomorrow. PCR is at 0.78. Net selling continues-- FII/DII net 711cr selling. Markets remain volatile with uncertain global politics translating its mistrust to the markets. Charts remain above the 50/100/200EMAs - can it sustain above EMAs or breach the 50EMA support tomorrow?...

PromodSshrivastava

Nifty breached 100EMA with a bearish candle and closed below taking support at 17310. Can it sustain above this level? Global sentiments played a major influence on the markets. Vix remains above 20.59. PCR is at 0.78. net selling of 711cr by fii/dii. Unless sentiments revive categorically, volatility will remain. CPR is narrow 34pts tomorrow, so a trending...

PromodSshrivastava

Banknifty filled most of the gap with another 200pts to go to fill it completely...will it fill the gap completely tomorrow? Banknifty has closed below the critical resistance at 38249. Global cues are driving the markets with V shaped recovery coming today on the back of russian announcement....the euphoria now being tempered with west wondering if Putin can be...

PromodSshrivastava

Nifty made a V shaped recovery backed by global news. Events during the night will determine if the sentiments sustain tomorrow. DII went on an overdrive buying which took nifty to such highs. Global messages are mixed - no one can trust Putin's announcements.So will there be another small selloff/profit booking given fears are still not over? CPR is wide tomorrow...

PromodSshrivastava

Bank nifty crashed due to global cues, so when will it be able to make a bounce back? SGX nifty futures are trading 200pts higher, so are US market futures. So is the fear over? We will know tomorrow. The gap down opening today has left a big gap to be filled. 36570 is a major support from where there was a bounceback earlier. Charts have obviously lost its shape...

PromodSshrivastava

Nifty crashed by more than 500pts and closed close to the 200EMA. PCR is oversold at 0.47. Global cues remain a concern however US futures are making a recovery post the crash. SGX Nifty futures are now trading above 17000 levels, a gain of 200pts. So tomorrow, we could see a recovery with gap getting filled. With no other significant negative cue, global...

PromodSshrivastava

Bank Nifty remains overall quite bullish trading above 50/100/200EMAs comfortably. It made a doji indicating a pause to the bearish sentiment due to global cues? If the pullback is sustained above 38811 then levels of 38891 and 39802 could come in play. PCR at 0.79 is oversold. CPR is just 50pts wide so 38593 could act as a good support. Days range could be...

PromodSshrivastava

Next target for Nifty is 17757 if there is no overbearing bearish sentiment due to global cues tomorrow. Nifty has filled the gap and taken support exactly at the Gap at a critical 17310. Also it managed to pullback and close above 100EMA. Next resistance levels are 17520/17757. PCR is 0.81 and in oversold territory. CPR is 2 pts wide and a 17379 will be a support...

PromodSshrivastava

#banknifty breached critical resistance 38832/38891 with a green candle emphatically. Late selling could bring index to retest this level and take support. Bullish run continues with index trading above 50/100/200EMAs. The next major resistance is 39802 which could be tested in the near future. FII/DII net purchase of 995cr with DIIs being the support helped the...