TanmayAggarwal

TanmayAggarwal

It's 11th August here in India, 10th August is the trading day in USA. Dow has been in a very tight trading range for nearly 7 trading sessions. It is remarkable however that it is trading above its key support levels of 34500. Waiting eagerly for its breakout in either direction which will propel a strong rally of 1000-2000 points in DOW JONES index and will be a...

TanmayAggarwal

in.tradingview.com Nifty, Banknifty seems to be done on its downside for a while now, Banknifty has shown strength today lead by ICICI Bank. This strength can continue tomorrow and hence a BUY trade can be taken on ICICI bank for a small pullback. Do not forget the overall texture of markets, overall it is sell on rise now, so book small profits.

TanmayAggarwal

in.tradingview.com There has been some liquidation on the charts and OI has increased around 6% indicating a short build up hence initiating a SELL 7175 levels. Although this trade should be taken keeping in mind nifty is at oversold levels and can witness a sharp shortcovering spike anytime during the day.(27th Feb 2023)

TanmayAggarwal

in.tradingview.com Nifty has been performing poorly since the last three months, even if we leave the index constituents aside, the situation is even more dire in midcap and small cap indexes some of which can be attributed to the Adani stocks. Adani stocks, put pressure on the banking index and banking index constituents especially SBI collapsed due to the...

TanmayAggarwal

in.tradingview.com Markets have been showing lack lusture recently. Infact they have broken out of consolidation zones and started plummeting. And this fall looks serious and warrants further downfall in upcoming months. Keeping the broader macros and valuations in mind, one can initiate a sell on IT midcap, Persistent systems, recently it tested its sub 5000...

TanmayAggarwal

in.tradingview.com In the recent days there has been a heavy selling pressure on BankNifty, icing on top being outperformance by Nifty IT. SBI along with other banks suffered due to the ADANI fiasco. But things seem to be settling now and SBI has shown resilience for 520-525 levels. There have been two instances one on the budget day 1 Feb, and the other on the...

TanmayAggarwal

in.tradingview.com In the recent days ITC's moves have been really impressive with spike in volumes and the price movement. It is also worthy to mention the fact that the price it is currently trading is ex of the 6rs dividend which was adjsuted in the price on 15th February. I would like to clearly and openly state that right now I am not comfortable with the...

TanmayAggarwal

Its been 4 weeks, where DOW has failed to give a close above 34000 levels. With flux on inflation numbers coming in recently, it seems to be a clear mandate that FED is not turning dovish anytime soon. Moreover they have suggested that there might not be any rate cuts in the scene until end of 2024! This sends shivers up my spine and makes me wonder where are we...