#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...
#nifty50 today breached 50EMA with a powerful pinbar, rejecting lower prices and moving up sharply. It also breached a critical resistance of 17520. Next resistance is 17757/18171. Net buying by FII/DII of 995cr propelled the index higher. RBI policy announcement calmed nerves as vix fell sharply to 17.71 for the second day. PCR at 1.04 for next week expiry is...
Bank Nifty made a nice green bullish candle heading towards 38811. Helped by DII buying more than FIIs, net buying at 901cr. PCR at 0.88 indicates market no longer harbours fear of a downside, moving into comfort. Vix also went down by 5.74%. CPR is 126pts wide and will support bank Nifty on the downside (below todays close). Expect a trending market to next...
Nifty made a bullish green candle helped along by spirited buying by DIIs outgunning the FIIs net buying 901cr. PCR increased to 0.78 which continues in oversold zone. CPR is just 38pts wide below todays close, so will act as a support and indicates a trending market. Weekly expiry as per max pain is at 17400 which could move up a notch as nifty trends higher...
Bank Nifty made a bullish hammer on the daily chart today. DIIs supported by becoming net buyers. PCR is oversold so is supportive of an upward move tomorrow. If it breaches 38249, then it will test next resistance of 38891 and then 39802. CPR is wide and opening tomorrow should be above TC, so it will act as a major support on the downside. What do you think?
Nifty made a hammer doji indicating a bullish reversal. PCR is oversold so is supportive of a reversal. DIIs became net buyers again today, again should act as a support for tomorrows trade. So if Nifty breaches 17310, then it could go to the resistances 17520/17757. What do you think?
Bank Nifty made a big red candle continuing corrective move but closed above all three 50/100/200EMA. The momentum on the downside was hastened by DIIs selling for 1376cr, much more than DIIs who sold for 1157cr total selling of 2534cr. Bank nifty could find good support at 37070/36570. CPR is wide at 216pts. so a gap down opening could mean a major resistance at...
Nifty made a big red candle breaching critical support level of 100EMA. DII -1376cr outsold FIIs -1157cr today , total selling of -2534cr sending markets in a downward spiral. Next major support is 16923 where this correction move should hopefully end. PCR is at 0.43, oversold and indicates an imminent reversal. CPR is 76pts wide. A gap down opening will mean that...
Bank Nifty has closed at R3 resistance around 38832. If this level is breached then we could see a resumption of bullish uptrend again. For the moment it is well above 50/100/200EMA on weekly charts indicating bullishness. PCR at 0.61 is oversold and contra indicates a rebound upwards. FIIs having sold 45417cr so far in 2022 have been putting pressure on index...
Nifty has closed at 50EMA on daily charts, also 17520 is a major pivot support. On the weekly charts, there is still some more correction possible till 16685 which will be the 50EMA support level. PCR is quite oversold at 0.57 so contra indicates a pullback. On the upside, 17757/18171 are next resistance levels. FIIs seem to have caught the bug again selling...
Bank Nifty paused above camarilla R3 38832 acting as a major support. 0.71 PCR for next week expiry contra indicates an upside move. FII 1598cr selling + DII 371cr selling total 1968cr selling pulled down banknifty in late day trade, however it still managed to stay well above R3. Indicates strength of the index. The pause may be good for the next push towards...
Nifty faced immediate rejection at camarilla R3 pivot, it had breached and closed above 17757 yesterday, today it came down from this level. After filling the Gap during the day, it fell steeply end of the day to take support at support pivot level 17520, closing just above it. Incidentally this support coincides with 50EMA, making it an even stronger support....
Bank Nifty breached a strong resistance with a big green bullish candle. Level 38891 will act as a major support going forward. PCR at 1.17 is already a switch from a bearish view a day earlier. Bank Nifty faces some resistance at 39k, once breached, it could go on towards 39802 quickly. Next levels will take it to new all time highs. CPR is 174 pts wide, so 39244...
Nifty lived up to its indication yesterday of flying ...by breaching 17780 with a solid green candle- Next resistance is at 18171. The gap left behind today -tough guess on when it will be filled- however a retracement should happen sometime. PCR is a balance 0.96 and with FIIs taking a breather selling just 184cr, Nifty has found wings. DIIs too bought a pretty...
Bank Nifty closed strongly on a volatile day, breaching resistance of 38458 and closing above it with a green bullish candle. FII/DII were net buyers with 1576cr which helped the market rebound from intraday low. PCR at 0.7 indicates further upmove. CPR will act as a major support if there is a gap up opening tomorrow. Next resistance levels are...
Nifty made a bullish hammer firing ahead like a rocket with a long tail. This was helped by net FII/DII purchase of 1576cr. Have the FIIs finally become net buyers? Time will tell. Nifty made a strong close above 100EMA so is looking extremely bullish trading above all three EMAs 50/100/200EMAs. PCR above 0.76 is yet to reflect bullish sentiment, we could expect...
Bank Nifty made a red inside candle today however there are some positives here. First, it closed above yesterdays close. Also it closed well above the critical support level of 37457. The PCR is 0.65 and contra indicates a move upwards. PCR is just 28pts wide so a trending market is expected. Vix has predictably shot up 6.08% to 21.95. FII/DII had a net buy of...
Nifty moved up a notch from 17015 support level. Today it opened and closed above 17242 which will act as a major support tomorrow. A gap up opening is likely as per sgx nifty tomorrow,. Next resistance level is 17693/18032. PCR at 0.65 contra indicates a pullback. CPR is 2 pts wide so a trending day is likely.CPR will act as a support level (17339). Any positive...