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SBIN is indicating weakness from the highs. Last week's rejection candle was huge and now price is failing from the Monthly Pivot which is a sign of weakness. Short position can be built up for a Target to 782 price level. You can expect these levels to reach by mid to end of January 2025 series.

Sky_Tracer Updated 

Nifty could be possible losing steam. Although BN looks strong due to HDFC Bank, the same might not be applicable to Nifty. There could be sideways action only leading up to this expiry. However, if 25,880 is breached on the downside, there could be a correction up to 25,650 level. Stand by!

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As I had mentioned earlier, BN has indeed fallen to 52,980 level and now is in oversold territory. We can anticipate some short covering to happen anytime now. The crucial level to watch out is 53,118. If we get a strong closing above it in the noon session after 13:30, we can anticipate a short covering rally. The immediate long side target could be 53,700 Standby!

Sky_Tracer Updated 

BN has rallied tremendously, all thanks to HDFC Bank as I had explained earlier in my posts! While the overall trend still remains Bullish, there is a possibility of minor cool off if today's low i.e. 53792.85 is breached. The immediate target would be 53,259. However, this can be planned for next week's expiry.

Sky_Tracer Updated 

BN is having a beautiful price compression. Potential energy unleashes Kinetic energy in Physics. The same applies in the markets too. When there has been a price compression for a long time, it leads to an explosive move! A trigger is needed for BN. That trigger level is 51,330 which needs to be breached strongly. This could lead to a swing entry on BN. Stay tuned!

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You can see the way the price is contracting. The sellers aren't able to make any significant new lows and the buyers are lapping up the stock around the 3475 - 3500 levels. Once there has been a sufficient squeeze of all shorts, there will be a breakout on LT. We can anticipate this happening soon. Stay tuned and track LT in the coming days.

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We need to curb our upside expectations from Nifty Index. The only stocks that I foresee moving up from now on the upside are - 1. HDFC Bank 2. ITC 3. LT 4. Axis Bank The other 6 names from the 10 heavyweights have moved significantly and will mostly continue to remain sideways. Hence, overall I foresee Nifty to be sideways to mildly Bullish. It is best to be...

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Reliance is forming a good base. You can notice how the price is consolidating at the lows. Long position can be taken once there is strong closing above 2941.00 price. The move is intended to be a one to two day holding type trade and not beyond that.

Sky_Tracer Updated 

From the Auto pack, two names are bullish today - Bajaj Auto and Maruti. Bajaj Auto has already flown up. So, no point chasing it. Maruti on the other hand also has given good yearly returns this year. I'm looking at a swing Options trade in Maruti on the upside. Have taken long and will exit in a week maximum if the trade works in my favour. 26thSep12200CE -...

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Drop in Brent Crude rates followed by US Markets not falling further seems to have propelled further Bullish momentum in BN. However, I won't be entering Long unless 51,330 is taken out strongly. I need to see strength of the Bulls, not a weak take out of the level. If that happens today, I will plan to take swing position in BN for next weeks expiry. I don't...

Sky_Tracer Updated 

Nifty forming a good base. Strong closing above 24950 can lead to short covering rally. Standby.

Sky_Tracer Updated 

Do not short BN! It's only a gap down. Wait for price action and look for intraday Long opportunity.

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BSE is showing good bullishness and is expected to reach 3950 levels on a positional / swing basis. Maintain SL of 2690.

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It's quite likely that Bank Nifty remain sideways this week. Next week could possibly be trending. Trending move this week is done. Wait for price action to take fresh positions next week. Avoid trading scraps else, your premium will be eaten by the Option seller.

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Nifty is going to remain sideways to sideways bearish this month. I don't see any kind of trending moves. If at all some move presents, it could be some short covering with not much scope. This is the kind of market for Strangles and Condors. Ideal for sellers. Buyers to avoid Nifty.

Sky_Tracer Updated 

The gap down opening as a result of US markets fall is only a blip. Wait for price action. Nifty could rally back to 25200 level.

Sky_Tracer Updated 

Wait for BN to close above 51383 and go long for an intraday target to 51,560.

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NH is having perfect contraction and accumulation and is now set for a blast. Swing positions can be built for a target of 1685 at least. Holding period could be over a month to couple of months. But it should give good returns.