SYFXTF

SYFXTF

The currency pair is consolidating between 83.35 & 83.62 for the third consecutive week. It is observed that the currency pair is drifting back in to the top of the rectangle. The indications are that the pair may break the barrier at 83.65 and move higher towards 83.80. Any daily close beyond 83.80 is a clear indication of the Alligator formation opening its...

SYFXTF

The Bank Nifty is posted a new ATH from where it got sold off. The Bank Nifty moved in range of 633 points Viz. between 49057 & 48424. The Bank Nifty posted a bearish candle with higher lows and higher highs. The big picture shows that it is moving in an ascending channel with lower support at 44600 and resistance at 50200 with a pivot at 47600. The current move...

SYFXTF

The Index crossed the key resistance one of 22510-530 and posted a new ATH of 22775. However, it is seen struggling to maintain the gains and ended the week with a bearish candle after three weeks of positive candles. The Index is moving in channel and is expected to decline towards the lower end of the support and consolidate before taking further direction. A...

SYFXTF

The currency pair is consolidating between 83.25 & 83.55 for the second consecutive week. It is observed that the currency pair is drifting back in to the rectangle. The indications are that the pair may re-attempt 83.10 and possibly 82.95 once before attempting higher levels. The market will try to position itself for covering the Imports on any dip. Markets were...

SYFXTF

The Bank Nifty moved in range of 1278 points Viz. between 47279 & 48557. The Bank Nifty posted a bullish candle with higher lows and higher highs. The big picture shows that it is moving in an ascending channel with lower support at 44600 and resistance at 50200 with a pivot at 47600.The Bank Nifty seem to be catching up the lost opportunities. Within the channel...

SYFXTF

Though the Bulls were in control, there seems good supply coming in at higher levels. The Index was struggling to cross the key resistance at 22520-30 region. However, on the weekly Option expiry day it opened with a gap and then slid all the way to the lows of the week and finally closed higher. Now that the Index is back in the original channel and is expected...

SYFXTF

The chart shows an ATH of 83.69 whereas the on-shore markets high is believed to be 83.49 in this move. Thank God that the pair did not move beyond 83.70 else it would have been a disaster. Also that the currency pair is drifting back in to the rectangle. The market will try to position itself for covering the Imports on any dip. Markets were expecting huge flows...

SYFXTF

The Bank Nifty moved in range of 915 points Viz. between 46529 & 47440. The Bank Nifty posted a bullish candle with higher lows and higher highs. The big picture shows that it is moving in an ascending channel with lower support at 44600 and resistance at 50200 with a pivot at 47600.The Bank Nifty has been underperforming compared to the main Index. Within the...

SYFXTF

The Bulls regained the control and made a remarkable comeback. This action makes the base of 21840-940 range stronger for the near future at least. Now that the Index is back in the original channel and is expected to consolidate before taking further direction. The final session of the week/Month & quarter proved to be a volatile session with whipsaw moves and...

SYFXTF

The pair below 82.80 after nearly 6 months was like a fairy tale and the story proved to be short lived. The tweezer bottom at 82.65 worked perfectly. As expected the pair attempted the long term trend line resistance at 83.09.The market witnessed a sharp move past the boxed range and the pair made a new ATH at 83.69. This comes as shocker for the market as the...

SYFXTF

The Bank Nifty moved in range of 1162 points Viz. between 45828 & 46990. The Bank Nifty posted a reactive bullish candle with lower lows and lower highs. The Bank Nifty has been underperforming compared to the main Index. The big picture shows that it is moving in an ascending channel with lower support at 44275 and resistance at 49875 with a pivot at 47075....

SYFXTF

The selling pressure continued in spite of 21900 lending support. Finally the bears managed to break and took the Index to 21700 making one thing completely negative as the much stronger support one of 21770-840 giving up easily. The subsequent sessions provided relief for a recovery past the 22K mark and ended the week with a positive candle, giving some hope for...

SYFXTF

The pair drifting below 82.80 after nearly 6 months was like a fairy tale and the story proved to be short lived. The pair made a tweezer bottom at 82.65 and closed the week at 82.86. Ideally it might attempt the long term trend line resistance at 83.09 and find sellers emerging. The Currency market seems to have lost the shine as most of the currencies are moving...

SYFXTF

The Bank Nifty moved in range of 1543 points Viz. between 47853 & 46310. The Bank Nifty posted a bearish candle with lower lows and lower highs. The Bank Nifty has been underperforming compared to the main Index. The big picture shows that it is moving in an ascending channel with lower support at 44275 and resistance at 49875 with a pivot at 47075. Within the...

SYFXTF

After 4 consecutive weeks of gains, the Index seems to have hit the wall. In the past week and the previous week it made the high of 22525 and could not cross the hurdle. Bulls attempted good attempts to take it higher. However, the Bears waiting on the sidelines for long loaded with all ammunitions stepped up their attack, this resulted in a sharp fall and the...

SYFXTF

The pair finally closed below 82.80 after nearly 6 months. The pair was traded between 82.92 and 82.66. The good part is that the upside has gradually brought down from 83.30 to below 83. The Currency market seems to have lost the shine as most of the currencies are moving in a narrow range waiting for a trigger event. We can expect a consolidation between 82.40...

SYFXTF

The Bank Nifty moved in range of 970 points Viz. between 47191 & 48161. The Bank Nifty posted a bullish candle with higher lows and higher highs. The Bank Nifty has been underperforming compared to the main Index. The Bank Nifty is moving in an ascending channel with lower support at 44275 and resistance at 49875 with a pivot at 47075. Within the channel there...

SYFXTF

The Index moved in a slightly narrower range in a truncated week. The Index registered gains and made a bullish candle for the fourth consecutive week and achieved another ATH. The sentiment continues to be positive. It remains to be seen whether the narrower range is on account of consolidation phase or a sign of exhaustion. This week is crucial for the further...