protrader1969

protrader1969

Nifty is at very crucial level for three reasons, as shown on daily Nifty chart - 1) 14300( approx.) is 61.8% of Fibonacci retracement. 2) Currently Nifty is at lower channel border. 3) Nifty has also closed below the lower band of Bollinger band. Normally, a reversal is imminent if these three indications are there on Chart but I am not sure about that tomorrow....

protrader1969

5 days of continuous fall, one day rise and today a Doji candle- meaning indecision! So to Nifty we ask- which way bro? Let us find out. Let us look at FII and DII ( Net buy/sell) figures for past 6 days (+ bought & - sold): 15 March: FIIs: -1101 Crs DIIs: -749 Crs Nifty 14929 (-101) 16 March: FIIs: +1692 Crs DIIs: -1169 Crs Nifty 14910 (-19) 17 March: FIIs:...

protrader1969

Is Nifty in consolidation mode. But how can it be? It fell almost 144 points (0.95%) on Friday, so have our markets not entered correction phase? Let’s see some data. Nifty’s life time high 15,431.75 was reached on 16th Feb and on Friday, 12th March (after almost a month). Nifty touched 15,336 during first 5 minutes and then after half an hour or so couldn’t go...

protrader1969

As I wrote yesterday and expected, Nifty bounced back after the aberration on last Friday. As of now, all European markets are in green and up by more than 1%, Dow Jones, just opened, is trading up by whopping 508 points (+1.61%) and Nasdaq is up by 213 points (+1.62%). So the Friday’s fall is behind us and we look forward for a bright Tuesday morning...

protrader1969

On last Friday Nifty fell by 568 points (-3.76%), Sensex fell by 1939 points (-3.80%) and BankNifty fell by 1745 points (4.77%). All the 50 stocks in Nifty closed in negative? What happened? Why so serious? Reason given by various news sources- Bond yields in US increased a lot which resulted in USA and global markets to fall. OK… so how much did US markets fell...

protrader1969

With two sessions of sell-off, the questions all market participants are asking is – Is the bull run over? If yes, are we in consolidation phase or are we now ready to fall? Well, let’s find out- 1) Today, FIIs like usually were net buyers by 1787 Crs and DIIs, again as usual, were net sellers by 2075 Crs in Equity. FIIs (NET) bought index futures worth 141 Crs...

protrader1969

That’s the question on everybody’s mind- Will Nifty cross 15k tomorrow (today’s high was 14913.70). Let’s examine through usual data: 1) FII & DII figures: FIIs were net buyers in Cash (impressive 1936.74 Crs) and DIIs were net Sellers (-768.55 Crs). In index futures though FIIs were Net sellers (-1555.11 Crs) and net buyers in stock futures (518 Crs). This means...

protrader1969

Look at highlighted ellipse on Daily Nifty chart- all red candles, starting from 21st January till the end of this week on 29th January. What happened? On Thursday (i.e. 21st Jan), people thought expiry pressures on weekly settlement day. On Friday however, learned experts too didn’t have any plausible explanation. On Monday came the news around noon that on last...

protrader1969

Banknifty too finished with HH and HL candle today like Nifty. But as is evident BNF is slightly weaker even though today it rallied due to announcenments of easing of lockdown measures. Today's move in banknifty created a selling area, so one can sell between 20105 and 20225. Keep SL at 20300 with target of atleast 19800. Buying area remains as mentioned...

protrader1969

Nifty finished with yet another green candle with HH and HL than previous candle. Nifty is above and closed outside the upper band of Bollinger band which if global cues aren't good tomorrow can trigger selling. FIIs were Net buyers (1575 Crs) by impressive margin and DIIs were net sellers (459 Crs) in Cash segment. FIIs were net buyers in index futures (136 Crs)...

protrader1969

Banknifty is weaker than nifty. Nifty closed with HH and HL for last three consecutive sessions whereas BNF closed on Friday with LH and LL, compared to that of thursday. It is just above 20 DEMA. However there are no clear Selling areas. One Buying Area is there which I have marked - Buy between 18850 and 18725. Put SL below 18700.

protrader1969

Sustained buying in equity and stock futures by FII during last 3 out of 4 days with increasing volume show that they are expecting upside. Nifty closed abopve 50 DEMA with increased volume than previous day. So, Buy between 9430 and 9375. Put SL below 9370.

protrader1969

Today before our markets opened, DOW futures was down around 4% , the HangSeng down 3%, the Shanghai too was down with only the Nikkei in green. However the SGX Nifty was a whopping 1000 points down- more than 11%. How do we explain this? In my opinion, the fall was a reflection of the World’s (meaning FIIs) presumptions regarding India’s capability in dealing...

protrader1969

Banknifty (BNF) behaved weaker than Nifty on last Friday. Option chain does not show any conclusive build- up of contracts. On daily chart, BNF finished as a base-like candle with lower high and higher low - sign that can mean bottoming has started. Banking stocks were weak on Friday as out of 4 losers in Nifty 50, 3 were banks. However, some short covering which...

protrader1969

Two factors will weigh heavy on markets tomorrow when it opens- One, DJIA (Dow Jones Industrial Average) closed 4.55 % down at Friday’s close- again a significant fall after Wednesday’s and Thursday’s slightly muted activity. Two, Italy posted highest single day number of deaths (793) in world yesterday – much higher than that of China throughout its crisis...

protrader1969

When did we last saw this- Index was down but gold also went down. Oil was down but auto sales and airline companies were also down and so were all industries which use other chemical raw material from crude like paints. There is a disease in the air and yet pharma companies and hospital shares are also down. Rupee is down (as compared to USD) and yet IT companies...

protrader1969

Please read this post along with my post on Nifty for complete perspective on markets and tomorrow’s trading activity. On daily chart, Banknifty (BNF) has finished as a strong red candle completely closing outside the lower edge of Bollinger Band with RSI at 12.99 (Oversold region). Today BNF suffered a 2500+ points fall, I think, one of the highest falls in this...

protrader1969

Last night, when WHO announced covid-19 outbreak as pandemic and in the same breath added that they are using this term with care, it was foregone conclusion that markets will tank. So when DJIA started breaking one support after another I decided not to post video or post because no commentary or level would be predictable. I do not know if there was ever an 830...