SYFXTF

SYFXTF

The Bank Nifty moved in range of 1083 points Viz. between 43862 & 44949. The Bank Nifty finally broke the declining trend with a positive candle after four consecutive weekly bearish candles and it made higher lows and higher highs. The Bank Nifty seem to have breached the descending channel which triggered attempt of higher levels. With the change in sentiments,...

SYFXTF

The past week saw a muted action during the first four sessions. The euphoria of soft landing on the moon triggered a spike past 19460 hurdle and saw a high of 19584, but only to be sold-off back towards the lows of the week. The selling pressure is expected to continue till we see a spike above 19520-640 range on a closing basis. The Index made fifth bearish...

SYFXTF

Past week saw the break of 83 and went on to hit the high of 83.42 and closed at 83.12. The buying interest continues as the market fears breach of 83.50. It is evident from the market action that the declines are used as opportunity to hedge the Imports. Now that the markets would be trying to grab anything below 83.00. As expected the potential breach on the...

SYFXTF

The Bank Nifty moved in range of 612 points Viz. between 44212 & 43600. The weekly chart shows a fourth consecutive weekly bearish candle and it made lower lows and lower highs. The Bank Nifty seem to have breached one of crucial channel support zone at 44500. Going forwards 44500 would be a resistance. However, just a strong move can negate the scenario. A daily...

SYFXTF

The past week saw a repeated attempt of 19460-480 range and got sold-off. The selling pressure is expected to continue till we see a spike above 19520-640 range on a closing basis. The Index made fourth bearish candle on weekly chart. It remains to be seen if this fall is account of profit booking or a reversal. A few observations from the weekly charts are: ...

SYFXTF

Past week saw continued buying interest and the pair hit the high of 82.93 and closed at 82.85. The buying interest continues as the market fears breach of 83 which might have catastrophic effect. It is evident from the market action that the declines are used as opportunity to hedge the Imports. Markets are confused on the logic of this magic numbers 81.70 &...

SYFXTF

The Bank Nifty moved in range of 976 points Viz. between 45096 & 44120. The weekly chart shows a third consecutive weekly bearish candle and it made lower lows and lower highs. The Bank Nifty seem to have breached one of crucial channel support zone at 44500. Going forwards 44500 and 45200 would be resistance zone. However, just a strong move can negate the...

SYFXTF

The past week saw a repeated attempt of 19620-650 range and got sold-off. The selling pressure is expected to continue till we see a spike above 19640-770 range on a closing basis. The Index made third bearish candle on weekly chart. It remains to be seen if this fall is account of profit booking or a reversal. A few observations from the weekly charts are: ...

SYFXTF

Past week saw continued buying interest and the pair hit the high of 82.89 and cooled-off to close at 82.65. As has been continuously highlighted in the previous Blogs, it is evident from the market action that the declines are used as opportunity to hedge the Imports. Markets are confused on the logic of this magic numbers 81.70 & 83.00. This time around the pair...

SYFXTF

The Bank Nifty moved in range of 1503 points Viz. between 45782 & 44279. The Bank Nifty is back with big moves. The weekly chart shows a bearish candle and it made higher lows and lower highs and bounced from the lower end of the channel. Normally there would be breather after such strong moves in the following couple of weeks. The Index is trading in an ascending...

SYFXTF

The past week saw a sell-off on three out of five sessions. The selling pressure was more when the Index breached 19520. The Index made second bearish candle. It remains to be seen if this fall is account of profit booking or a reversal. A few observations from the weekly charts are: The index moved in a range of 499 points viz. between 19795 and 19296 The...

SYFXTF

Past week saw another rare attempt of 81.67. However, the market witnessed a strong buying interest and the pair swiftly rose to 82.33 and finally settled at 82.20. As observed in the previous Blogs, it is evident from the market action that the declines are used as opportunity to hedge the Imports. Markets would be confused on the logic of this magic number...

SYFXTF

The Bank Nifty moved in range of 1072 points Viz. between 45238 & 46310. The Bank Nifty is back with big moves. The weekly chart shows a bearish candle and it made higher lows and lower highs. Normally there would be breather after such strong moves in the following couple of weeks. The Index is trading in an ascending channel with a pivot at 45800 and the top at...

SYFXTF

The past week saw a reactive move and the Index could not hold above 19800 though it attempted twice. Every attempt to spike higher is being punished with selling. The Index made a bearish candle. However, it had not breached the previous week’s low. It remains to be seen if this fall is account of profit booking or a reversal. A few observations from the weekly...

SYFXTF

Past week saw a narrow range of 81.91-82.20. After having seen the 79 to 83 moves during Sep 22, the declines are used as opportunity to hedge the Imports which has been highlighted in previous blogs. However, when the DXY has breached crucial 100 mark, there are no reason that the USDINR currency pair holds on to this range. This week is crucial and there are...

SYFXTF

The Bank Nifty moved in range of 1674 points Viz. between 44695 & 46369. The Bank Nifty is back with big moves. The weekly chart shows a strongly bullish candle and it made higher lows and higher highs. Normally there would be breather after such strong moves in the following couple of weeks. The Index is trading in an upward sloping channel with a pivot at 45760...

SYFXTF

The past week saw a strong up move once it crossed 19600. A new ATP has been made at 19991, just short of the 20k mark. However, Friday’s saw a sharp down move to make the Index settle at 19745. The Index still made a bullish candle. It remains to be seen if this fall is account of profit booking or a reversal. A few observations from the weekly charts are: ...

SYFXTF

Past week saw a reversal of previous weeks move and closed around 82.02. As observed in the previous blog the declines are used as opportunity to hedge the Imports. Once again, the markets would be looking for lower levels to hedge imports. However, when the DXY has breached crucial 100 mark, there are no reason that the USDINR currency pair holds on to this...