PromodSshrivastava

PromodSshrivastava

Nifty breached the critical resistance level of 18276 with a strong green bullish candle today. With the next level close to all time high levels, it's time to use Fibonacci retracement tool to find the next possible highs for Nifty. So the next resistance levels (pivots) are 18605,18728 and 20105. The 20k level looks a bit far fetched as of now however the vix...

PromodSshrivastava

Bank nifty recovered sharply from the gap down and downward move however it faced resistance at 38458 and closed below it with a green candle. The previous candle was a red bearish candle and todays close was below it. The next available support is at 37457-so will bank nifty continue to trend downwards? It is quite likely given FIIs have begun selling (1598cr )...

PromodSshrivastava

Nifty closed below 18276, recovering appreciably from a gap down. FIIs sold for 1598cr while DII bought for 371cr net selling 1227cr by institutions. Creditable that Nifty managed to close with a green candle despite net selling of 1227cr. PCR fell to 0.98 so option writers opinion is evenly divided. Todays candle close was close to where the Doji closed...

PromodSshrivastava

Bank Nifty filled the Gap and also took support at 38458 as we had indicated in y'day chart. Now the PCR has dipped to 0.73 -option writers fear more correction. FIIs sold for 1391cr/DII bought for 1065cr=net 326cr sold today by institutions. FIIs turned net sellers in jan as well...as they have been for past year. So there would be choppiness and downward...

PromodSshrivastava

Nifty's flight turned into a doji today--indecisive and yet hit the 18276 level intraday-we had indicated this yesterday. FIIs sold 1391cr today against DII 1065 buying--net 326cr sold by institutions in the cash market. Bank nifty lost some steam as well, so will nifty look for consolidation as well? PCR at 1.09 is still bullish, but less so compared to prev...

PromodSshrivastava

Bank Nifty made an indecisive candle today (almost a Doji) ....however it left a gap below and closed in green. This is the 10th consecutive green candle. Today it failed to break above critical pivot resistance of 38832. Some downside factors - PCR went down to 0.98, indicates option writers expectation of a downward move. Option indicates expiry level of 38500,...

PromodSshrivastava

Nifty made a green bullish candle with a gap- accelerates towards the next resistance level 18276. With the FII selling for -1002cr and DIIs buying for 1332cr-> the net 330cr buying by institutions helping it along. PCR went higher towards 1.29 indicating option writers bias towards further upside....contra indication could be indicating some correction. Option...

PromodSshrivastava

Bank Nifty made a bearish hanging man candle after several bullish sessions. The level 38458 proved to be a tough one to sustain above for bank nifty today---despite supportive buying by FII (112cr) and DII(379cr) net 491cr buy by institutions. 38458 is a pivot level on the shorter timeframe. So if bank nifty opens above this critical level and sustains above...

PromodSshrivastava

Nifty breached camarilla R4 resistance 18032 with a solid green candle today. If tomorrow's opening sustains above this level, then we should see 18275 within a short time. Factors supporting Nifty is buying by both FII/DII=total net 491cr today...and likely to continue we will presume? Price is well above 20/50/100 EMAS indicating continued bullish sentiment and...

PromodSshrivastava

Bank Nifty moved up in the closing hours with a very strong momentum. If the momentum continues with todays high breached (gap down opening indicated by nifty tomorrow) then we can safely assume a continued move towards 38847. Despite net FII selling, we saw a big momentum. So with support from FIIs, we could see a strong move to the next level of 38847. PCR at...

PromodSshrivastava

Nifty made a strong move upwards moving from R3 to R4 with good momentum. 18032 is a critical resistance and if this is breached, then it can go on to 18276 as the next resistance. PCR at 1.26 is quite supportive of an upside move with strong support at 18k. FIIs were net sellers at -124cr and DII net buyers at 482cr. With better institutional buying support,...

PromodSshrivastava

Bank Nifty made a green candle today(albeit with long wicks on both sides--showing lack of direction). On the positive side the candle stayed above critical level of 37457 which will now be a major support. If price stays above this level, then we could see move towards 38832 in next sessions. FII (+496cr), DII(-116cr) net +381cr added support to help with a green...

PromodSshrivastava

Nifty made an indecisive candle (almost a Doji). The PCR at 0.99 indicates likewise. On the positive side, todays candle was clear above the Camarilla R3...so pathway to R4 remains possible. Also the candle was formed above the trio -EMAs 50/100/200. India vix settled down at 17.6 with a drop of -2.09% - expectation of lower volatility going forward. FII(buy...

PromodSshrivastava

Bank Nifty made a bullish inside bar candle today. Big positives today--- Despite massive gap down, BN rebounded to close above critical support pivot level of 37457. FIIs sold massively (-1927cr) against 801cr DII buying =net 1126cr sold by FII/DII.--despite this Banknifty managed to hold the pivot support and made a bullish candle. CPR is narrow tomorrow...

PromodSshrivastava

Nifty made a red uncertain candle today. On the positive side, it is still trading well above all the three 50/100/200 EMAs. While it briefly breached 17693, it closed well above this critical pivot support. PCR is down to 1.02 - which means that option writers are still not bearish on the index. Despite some heavy selling by FII(-1927cr)/DII(+801cr)=Net -1126cr...

PromodSshrivastava

Bank Nifty made a big bullish green candle staying comfortably above 50EMA/100EMA and 200EMA. In the process it breached 37457 critical pivot level with a big bullish candle. PCR remained bullish at 1.48 with option writers comfortable writing puts. Max pain expiry level as per option data is at 37400. Resistance levels to watch for on the upside...

PromodSshrivastava

Nifty made a green bullish candle comfortably above support of 17693. On upside 18032 will act as a resistance, Next resistance level is 18120/18353. If market reverses from 18032 then 17873/17731/17693/17497 will act as support levels. PCR remains unchanged today- option writers remain bullish. Max pain level for expiry as per option data is at 17850. FII+DII...

PromodSshrivastava

Bank Nifty has finally breached 50EMA and closed above it after 34 consecutive trading sessions. Helped along by FII (1274cr) and DII (533cr) buying! PCR went up a notch to 1.42. 36479 was breached comfortably today, so the next resistance is 37457 which should be the target tomorrow. On the downside wide CPR will be a support followed by 36479. Chart sare...