About meI have always been curious about markets since my college days. After my post-grad in Finance, I worked with a Big4 as an insurance sector research analyst. Next, I took the plunge to become a full-time trader and have been doing successfully since 5 yrs
We saw some heavy selloff in Banknifty in later hours yesterday. This seems not over yet. With index heavyweights seeing selloff, things may take time to turn. If the index is unbale to trade above 37000 and breaks yesterday's low, it might head towards 35000 kinda levels.
We are maintaining bearish bias for last many days and for all the right reason. Markets are selling off, with heavyweights like HDFC twins falling sharply. Nifty hit the target of 16900 and moved below that but managed to close above.
Now 17200 is likely to act as strong resistance and Nifty needs to move and stay above for longs. Below 16800 is crucial. If...
Notice the chart, markets are falling with gap down and huge volumes for last few day. Today's sell-off in the last one hour (currently its 3:10) is also with huge volume. This is not a good sign. Though short term indicators are over-stretched, overall sentiment seems quite bearish. Sell on rallies or wait for market to find a bottom and consolidate, if you are...
Market fall may have taken few by surprise, but followers of price action techniques should have this scenario in their plan. Trend analysis (or Elliot wave analysis) along with Fib Retracements could be of enormous help if used in tandem with price action. They at least give you minimum target and levels, so that you are able to ride the trend and also do not...
Markets are staring at a gap down opening. The Nifty is likely to take a hit. In such scenario Banknifty has to put a lot of effort to keep its head above the water. The HDFC bank results are good but the big question are they good enough to save Banknifty.
Immediate support: 37300
Immediate resistance: 37900
If 37300 is broken it can easily travel 300-400...
Before holidays, I wrote if Nifty can travel towards 16900-17000 in coming days. Seems that might happen. The weekend has not gone well and we are likely to see a gap down opening, and with global clues highly negative the fall is likely to get deeper, with tartes of 17180 followed by 16900 in the sight.
Immediate support 17180
Immediate resistance 17500
We defined 17600-18100 as a range which was in play for the last several days. However, yesterday we saw markets not able to sustain higher levels and weakness in the last hour of the session pushed the index to close near the lows. Today based on the world markets, SGX nifty and reaction to TCS results (could be negative) we might break 17600.
Immediate...
The stock is seeing some selling with volume in early trade. Whether it is a minor pullback or a deeper will become clear in coming days. It needs to hold 258-260 levels to continue the bull run, or we may see some pause.
Banknifty has been trading bullish for few days, with HDFC merger news adding to the fire. However, the index is seeing a small correction from there. For the bullishness to continue, the index should hold 37000. For long trade look for low risk zones around those areas. A break down below these level may attract further sell off.
Markets are not able to move beyond 18100 high made on the the day of the HDFC merger news, suggesting it was a news driven rally. The HDFC twins have also give up all of their gains and some more, from the day of the announcement. Now the focus is on the 17600-18100 range. While the undertone is still mildly bullish, any move below 17600 would attract a sell off...
Like all FMCG stocks Britannia is showing some bottoming pattern, though late in the rally. It may pick up speed if the levels of 3350 are crossed. Assuming it is doing a 5 EW, the stock can head towards 3600 in a staged manner. Look to enter based on Fib pullbacks, as long as the stock trades above 3120-50 kinda level. If breaches 3100, the view gets negated.
Friday, Nifty broke 17500 and rallied, which was against expectation. But in markets you have to flexible to trade in the direction of the markets. Now we have see if this bo sustain, in which case we may head towards 18000-18100 levels. But before that we might see a pullabck of atleast 150-200 points. So watch out for those low risk entries. Also be open if...
Just taught some PA analysis to friends. While everyone was blabbering about war, many quality stocks gave excellent move in the last one month, which were tradable with thorough PA analysis.
Banknifty reached the first target of 36500, where it is facing some resistance. The index might see a pullback due to some profit booking. Though for the bull case to continue it should hold 36000 on closing basis. There are chances that the bull rally may be nearing to an end and we might see a deeper pullback. Stay alert!
As posted yesterday, markets showed bullishness in the early hours of yesterday and witnessed profit booking in the later half, with indices turning volatile due to expiry. There was a good fight at the 17500 options strike, but eventually bulls had the upper hand. Now in this pullback, Nifty should hold 17300-350 levels for this rally to remain intact. Else we...
As expected, we saw banking stock leading the recovery indices. Pvt sector banks performed through the day while public sector backs saw some sharp rises in the last hour of the session. 34500 is likely to give some resistance and today's monthly expiry along with last trading day of the financial year may keep markets volatile. Choose your bets accordingly.
As expected, yesterday markets moved up after a gap-up and pull back in the opening. Markets spend a lot of time neat 17500 levels, where a maximum CE-PE OI is placed. It has become a neck to neck fight with some bullish bias. However, this level is important as it is close to 61.8% retracement of the entire downmove from 18600 to 15600. So some resistance and...
Banknifty, which is lagging Nifty will likely play a catchup in the coming sessions, and attempt 36500-36800, where some strong resistance is placed. Stocks like HDFCBank, ICICI, Axis, Kotak and SBI are likely to lend support and offers a rewarding trading opportunity.
