SYFXTF

SYFXTF

The Bank Nifty moved in range of 637 points Viz. between 44547 & 45184. The Bank Nifty moving in a smaller range is unusual. The performance in the past two weeks have been muted compared to other majors. The weekly chart shows a bearish candle and it made lower lows and lower highs. The Index is trading in an upward sloping channel with a pivot at 45710 and the...

SYFXTF

The past week saw Yo-Yo move between 19330 & 520 with selling pressure every time the Index attempted to cross 19500. Friday’s move matched with India’s pride moment of Chandrayan 3 and the Index scaled a new peak of 19595. A few observations from the weekly charts are: The index moved in a range of 268 points viz. between 19327 and 19595 The oscillators of...

SYFXTF

Past week saw a brief breach of 81.95 and tested a low of 81.75 and reacted quickly towards 82.75. 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. It appears that the pair seems to be in no mood to breach even 81.70 on a closing basis. In such...

SYFXTF

The Bank Nifty moved in range of 811 points Viz. between 44844 & 45655. The Bank Nifty broke the 43500-44500 range where it was hovering for the previous 6-7 weeks and made a new ATH. However, the weekly chart shows a bearish candle although with higher highs and lower lows. The Index is trading in an upward sloping channel with a pivot at 44740 and the top at...

SYFXTF

Past week saw a very narrow range of 82.10-81.94.As observed in the previous blog the declines are used as opportunity to hedge the Imports. A close below 82.00 favors further lower levels provided 81.95 is breached on a daily closing basis.. The currency pair is at a crucial support. It appears that the pair seems to be in no mood to breach even 81.90 on a...

SYFXTF

The Bank Nifty moved in range of 1246 points Viz. between 44787 & 43541. The weekly candle is a strongly bullish one with higher highs and lower lows. The Index is trading in a new upward sloping channel with a pivot at 45230 and the top at 46400 and lower support at 44130. Only a weekly close below 44100 could lead to deeper correction.The Bank Nifty has been...

SYFXTF

The past week saw a big breakout from the congestion zone of 18650 and 18760 and the Index finally crossed the big barrier at 18880 and posted a new ATH. As noted in the earlier Blogs, Index surpassed the target of 19170. The Index briefly attempted 19200 and closed at 19189. A few observations from the weekly charts are: The index moved in a range of 555...

SYFXTF

Nifty saw a steep fall thereby making the decline for the third consecutive week. The weekly candle formation is a strongly bearish one. Being a Technical sell-off the momentum was higher and the reversal if it happens also could be sharper if short covering happens. Nifty is still showing signs of weakness ahead of the year end. A few observations from the...

SYFXTF

The sell-off in Bank Nifty continued for the second week with a stronger momentum resulting in the Index testing a low of 41600. Technically the break below 43100 triggered the down move. Break below 42200 is still a sign of bearishness. We see the Index continuing to move in a channel with top at 44600 and lower end at 41800 with a pivot at 43100. The weekly...

SYFXTF

The pair moved in a range of 81.37-82.96 during last week. The pair seem to be in a dilemma and un-willing to breach either side. We may see one more week of narrow range of 83.10-82.40. While the monthly candle is still in progress, it appears that the pair may make one more attempt of the trend line resistance at 83.30. Deeper corrections cannot be expected till...