Like Nifty, Banknifty (BNF) too finished as a red base-like candle with higher high and higher low. Also like Nifty, it made higher high and higher low for fourth day in a row. The coming destination for BNF is obiviously 30500, but more important one is that made on 23rd September, a day after corporate tax cut was announced, which is 30800. By this weekly...
On the expiry day, wild move is anticipated and it came right at the end. Nifty started falling after 2:30 pm and continued till 3:05 pm and then stabilized. So even though it finished as a red candle, it closed higher than yesterday. Another favourable point - 32 advances and 18 declines in Nifty 50 stocks. So relax, amidst corrections, higher highs and higher...
Option chain is not giving any conclusive levels so we look at charts. Banknifty finished on daily chart as a doji candle with higher high and higher low. with Nifty looking extremely bullish, BNF can't go low so buy at support which coincides with Nifty support. The correct buying area is one which is marked on chart but I don't see it coming there as of...
Once in a while you get revealing signals through unexpected quarters. Today, Nifty was not expected to open with big gap and neither was SGX nifty indicationg that. Yet it openned. Why? How? And then it collapsed but staged surprising recovery and Banknifty even surpassed morning high. So who was buying so much? Let's see. 1) FII & DII data: Here are the...
Option chain data for BankNifty (BNF) shows Put writing at all levels. This shows confidence of bulls. Even though highest total OI is at 29000, 2nd highest total OI is at 29500 and 3rd highest total OI is at 30000. Highest Put writing, though, is at 29500. On CALL side, There is unwinding at almost all levels till 30000. Only appreciable Call writing is at 31000...
The move which people were expecting to happen on Sunday (Muhurat trading day), happenned today. Nifty climbed up handsomely and took Banknifty along with it. The pullers were Auto Sector led by Tata Motors, Reliance, Metals due to perceived easing of trade tensions between US and China. The draggers were telecom companies due to payment crisis posed due to SC...
Banknifty (BNF) finished as a bearish engulfing candle with higher high, lower low and strong red body than previous two Doji candles on daily chart. So if one looks at daily chart closely, we see a rally, a set of two Doji candles signifying stop to rally and then fall today. What it implies? Obiviously some may say that it has topped out and further fall may be...
I expected weekly Nifty expiry somewhere above 11700. But Nifty fell through the day, first, in the morning, may be due to election results, and later in afternoon, due to SC order on telcos to pay AGR (Adjusted gross revenue) according to what government has determined along with penalty, amounting to 92,642 Crs! That order pushed Banknifty down due to large...
I hope traders who read yesterday's post on Banknifty did find profits today in trading BNF. I had hoped that it will go past 29600 but unfortunately it didn't. The option chain data shows range as 29000 to 30000 for tomorrow's expiry. On daily chart, BNF finished as a Doji candle with slightly Lower high and lower low, but higher open and higher close. For...
I hope some traders could take the trade in Nifty today since it came very near support and took off. Touchdown in Banknifty was much better and traders got ample time to participate at lower prices. Generally, since last few weeks, wednesday moves are much bigger than expiry day (thursday ) moves and therefore I did hope Nifty to touch 11700 as well, but it...
Banknifty today reacted more positively than Nifty. It openned gap-up and closed almost at same levels finishing as a perfect Doji candle on daily chart. Tomorrow due to Axis Bank's results it might get some correction initially but I expect it to bounce back from support. The option chain gives a broad range of 29000 to 30000. On chart, if we see last 4 days'...
The effect of Infosys drop in US markets due to whistle-blowers' complaint and very high provisioning in HDFC Q2 results were both felt today. Though I expected Banknifty too to take some hit, I think ICICI Bank and Axis Bank (during morning hours) didn't allow it to fall. Analysts expected better results from Axis Bank. After market hours Axis Bank announced...
This week markets open on Tuesday. Nifty is having a phenomenal run. Even though economy is yet to show any signs of improvement, markets are clearly reversing their bearish trend. And it is entirely possible for next few months that Nifty continues to make new highs and economy continues to show new disturbing signs because DIIs and now FIIs too are solidly...
Banknifty is not showing strong upward momentum like Nifty. Though option chain data gives a very wide range, charts are more conclusive. So even though on daily chart it is finishing as a candle with higher high and higher low (than the previous day's candle) for past 5 days consistently, the rally is a bit muted. Volumes on last 2 days were also more than first...
Mood is bullish. FIIs have been buying consistently since last four sessions and DIIs have bought heavily today too. So Nifty is looking bullish as compared to Banknifty. Nifty closed as a Doji candle with higher high and higher low and BNF finished as a red base like candle, also with higher high and higher low. I could not find any buying or selling areas in...
Though I hoped Nifty to fall earlier, slightly more and a bit easily, it didn't oblige when it first struck Selling area, but ..it did fall later. It kept on hitting Selling area from 10.45 to 13:45, till it broke through and rallied up. So Nifty gave ample indications to short traders that the fall is not meant to be and they should exit. That later it fell was...
Look at the two observations listed below: 1) On daily chart, Nifty finished as a green base-like candle and Bank nifty finished as a red base-like candle. 2) On daily chart, nifty's friday's lower low was nearer to thursday's low and high was much higher than thursday's high whereas for Banknifty, the lower low was significantly lower than thursday's low and...
Sometimes God is on your side and it is heartening to see that levels you had given were observed and followed. On Friday, Nifty reversed DOWN from Selling area as I had shown and Banknifty reversed UP from Buying Area. So there were 2 trades that gave some profits. I hope people who read the post were able to take at least one of those. If not, please let me know...