protrader1969

protrader1969

On Daily chart, Bank Nifty (BNF) has given 4th successive Lower Low and Lower High. It has closed below 76.8% Fibonacci level (29,220) and is between 100 & 200 DEMA without any certified support.The next support could be 88.6 % Fibo level of 28,895 which is around 230 points down. Option chain analysis shows, on PUT side highest total OI of 6.86 lakhs is at 29000...

protrader1969

What do we do when Nifty highs and lows are exactly same (on Dly chart) but open and close are different on 2 consecutive days ? Yesterday's and today's high is at 11398.15. Yesterday's low is at 11301.25 and today's low is at 11302.8. Does it mean that Buyers (or PUT writers) are confident about their support price at around 11301 and Sellers (or Call writers)...

protrader1969

The provisional NSE figures show FII/ FPI selling at 1912 Crs and DII buyig at 1830 Crs. The final Figures show complete and heavy FII SELLING- Around 1092 Crs.in equity, 1059 Crs in index futures and 75.42 Crs in stock futures. FIIs and FPIs have lost confidence it seems. Option chain analysis shows call unwinding at higher strikes and fresh heavy call writing...

protrader1969

How many could actually take the trade that I posted yesterday ? I hope people who took trade are looking to book profits or trail your SL at cost.

protrader1969

On daily charts, even though Nifty gave a red candle, it again has a higher high and higher low than previous candle. Exactly same is with Bank Nifty (BNF). But now it seems steam is running out. Why? One, because BNF has hit 20 DEMA acting as resistance and two, there is hardly any fresh PUT writing (only 42 k) on the 11500 strike, which has highest total OI of...

protrader1969

Frankly it is confusing to say the least from intra-day trading perspective. FIIs were net sellers in Equity and stock futures but net buyers in index futures by a marginal 141 Crs. DIIs were net buyers by 719 Crs as per NSE website. So buying in index is seen. Option chain doesn't give great figures since new series starts tomorrow. So, there is highest total PUT...

protrader1969

Did the fall in NIfty stop today or will it continue further? Let's investigate: I will investigate from three data points that I refer to usually- DII & FII BUY/SELL figures, Option Chain analysis and Technicals on Chart. 1) As per NSE provisional data, FIIs net SALE figures were at 674 Crs and DIIs net BUY figures were 711 Crs. The final data reveals a telling...

protrader1969

Four negatives of Nifty on charts : 1) Nifty made a huge bearish engulfing candle with OPEN very near to HIGH and LOW very near to CLOSE, which means unidirectional downslide. Bulls were not in sight as they were far outnumbered. 2) Nifty closed below 20 DEMA. 3) RSI turned down with a single day fall from 58 to 50. 4) Volume on futures chart are showing highest...

protrader1969

Budget is done and over with. India VIX was at around 13.5 which suggested very low expectation from FM (compare this with election results figure of around 39 and historical budget day figures of around 20-25) . And when there was no immediate relief/ measure for ailing economy, market tanked! So now at least for near term, Nifty is not going back in 12000 area....

protrader1969

Hi, This is daily chart and not the customary 15 min chart. The pattern is now bullish and I have shown fibonachchi retracement. BNF retraced from 50% levels (around 120 points above 50% levels) which has fairly good probability for retracing. Today's move of higher high and higher low (despite finishing a doji type candle) still shows signs of bullishness and it...

protrader1969

STOP LOSS hit. better to exit.

protrader1969

BNF is slowly approaching Selling area. Levels are marked on chart. Since NIfty & BNF are trading on weak footing, it is safe to short. Please use SL as shown in case trade reverses.

protrader1969

I hope traders who traded based on the published idea yesterday have booked profits. Not that BNF can't godown further, but it won't be a smooth downslide as there are supports here.

protrader1969

Everybody seems to agree that we are in bearish phase and broad range for NIFTY is 11600 - 11800. That, 11800 is very strong resistance can also be seen by option chain data. Total CALL OI on Friday in 3 strikes of 11800, 11850 and 11900 is more than 70 lakhs and fresh total Call writing (in same strikes) was of 30 lakhs. Compare that on PUT side- The total PUT OI...

protrader1969

Hi, when our markets openned today, HangSeng was up around 2.5%, USD was around Rs.69.5/$ and Brent Crude was around $62.5/ barrel. There couldn't have been better times and these ensured we openned gap-up. Then what happenned? Nifty made a high of 11802.5 (in 25 mins) and from thereon made a one-way downslide till 11625 (177 points down from high) over next 5...

protrader1969

Hi, On charts the patterns evolved for NIfty as well as Banknifty (BNF) both are bearish. Today's Doji candle has hit lower high and lower low than yesterday's (for both indices). Only saving grace is that Nifty has closed above 50 DEMA. After such a fall even the consolidation will take 2-3 days, if at all it starts to rise from here. But Nifty and BNF can...

protrader1969

Hi, What a dramatic day it was. BNF rebounded from previously tested low (Lower limit of S2 range 30,700 -30640, as I had written in yesterday's post) and staged a smart recovery of around 400 points to high. What about tomorrow? Will the upmove continue? Lets' examine. FII final figures show net selling in all the 3 segments- Equity, Index futures and Stock...

protrader1969

Hi, Today the move that I hoped in Bank NIfty (BNF) and NIfty did not happen. After breaking yesterday's Low, BNF went down further. Nifty in the end showed a lot of strength but BNF was downright weak and bearish. So what about tomorrow? Charts suggests consolidation. It is posssible that upmove that started in latter half might continue upward but today's slide...