protrader1969

protrader1969

Our markets did not work today but other Asian markets closed in green; European markets currently are trading in green, up by 2-2.4% and DOW futures are also trading 3.09% up by 738 points at the time of writing this post. So we assume that US markets will open in green. But all will depend on how they close tonight and how other Asian markets open tomorrow based...

protrader1969

On Daily chart, there are good signs for Banknifty- Friday's candle is a green candle with long lower tail and closing above the opening price meaning recovery from lows ( like Nifty).It is outside the lower edge of Bollinger Band meaning some bounce back will be there. RSI is at 24.72 meaning it is in oversold region. Further 3 of the five main high weightage...

protrader1969

All the indices of the world ended in red on Friday. Dow & Nasdaq, closed later in red but recovered almost 1% from their lows because of Joe Biden's victory in primaries-meaning that recovery had nothing to do with corona virus scare. Now the stage is such that nobody in the world has the faintest clue about what financial impact this outbreak is going to leave....

protrader1969

Please read this post along with my post on Nifty to get complete perspective on markets where I have written in greater detail. Today Banknifty was much weaker than Nifty. So BNF broke its low made on 2nd March whereas Nifty didn’t. However, it also must be noted that BNF recovered more than 500 of the 1000 points lost in intraday in late recovery. And given the...

protrader1969

Today’s fall and then recovery, both were due to domestic concerns arising out of corona virus outbreak in India. Now we are at stage where world matters less than Indian cases. China is reporting signs of recovery in economic activity. There is stability in numbers (of patients and deaths) coming out of China. However, what caused the recovery of around 169...

protrader1969

On daily chart Banknifty (BNF) too made a long red candle, like Nifty, with higher high but higher low and lower closing price. World markets were majorly in green during afternoon hours and we fell in last hour or so because 2 cases of corona virus were discovered in Delhi and Hyderabad. Thankfully both the patients are stable and are being monitored closely. On...

protrader1969

Our markets fell in last one hour on the news that 2 patients in India were detected – one in Delhi, who had come from Italy and one in Hyderabad, who came from Dubai. However, both the patients are admitted in hospitals, are in isolation and government in both states are monitoring situation closely. The panic selling , I think was overdone. Meanwhile, if we look...

protrader1969

Please read this post along with my post on Nifty to get complete perspective on markets where I have written in greater detail. Banknifty lost around 1040 points on Friday- one of the biggest falls in last 4 years, analysts are saying. Corona virus outbreak is wreaking havoc in new geographies across the globe. However, now I think the fall will stop. Why? For...

protrader1969

Just few days back, on 25th February I had written (for my post on 26th February) that Indian markets are in strong bearish phase and listed three reasons why will we suffer a great fall, advocating sell on any rise with proper reasons culled from charts, option chain data and FIIs, DIIs buying and selling figures. Nifty Closing on 25th was at 11798 and Nifty...

protrader1969

As of now, DJIA is 150 points down approximately and European markets are in red – FTSE is 1.40 % down, CAC is 0.1.37 % down and DAX is 1.22 % down. Our markets, or especially banknifty made a valiant attempt at rising but could not sustain the highs and came back down. Corona virus epidemic has claimed more than 2700 death worldwide and new cases are being...

protrader1969

Please read this post along with my post on Nifty to get complete perspective on markets. Traders who could buy BNF today as per buying area marked on my chart must have booked good profits. The ATM option gave more than 33% returns today. My only regret was it didn’t come well inside the area to give proper opportunity to traders. Banknifty (BNF) was stronger...

protrader1969

At this moment, Dow Jones Industrial Average (DJIA) is 922 points (3.18 %) down and NASDAQ IS 340 points (3.55%) down. European markets are all down by more than 3.5% each. As for our markets, Nifty today fell by 251 points (2.08 %) and Sensex went down by more than 800 points. This was 2nd highest single day fall in last one year (1st was after last year’s budget...

protrader1969

Unlike Nifty, Banknifty made a green candle, albeit base like, with long upper and lower shadows meaning that traders are divided over upper and lower limits of the index. Currently it is sandwiched between 20 DEMA (Exponential MA) and 20 DSMA (Simple MA). It reversed down from 50 DEMA resistance on Thursday. With all the talk of corona virus surrounding our and...

protrader1969

When our markets were closed on Friday, all the other major markets, Asian, European and American closed in red. Hangseng closed more than 1% down; European markets (FTSE, CAC & DAX) closed down by around 0.5%, DOW closed down by around 0.8% and Nasdaq closed down by 1.79%. All this is attributed to Corona virus spread, now wrecking havoc in South Korea and Italy....

protrader1969

Banknifty was weaker than Nifty today since after the initial fall, Nifty later turned back and broke its opening price to make a green hammer candle on daily chart, whereas Banknifty could not break its initial opening price and closed below it, but closed just above its 100 DEMA. Please check my video posted on youtube under channel name Market Movers India for...

protrader1969

Nifty opened to positive cues from rest of Asian markets and registered a 133 point rise to close at 12125.90, just above 20 and 50 DEMA levels. Now does it mean that global fear has ended and our markets are on our own? Not likely since number of deaths in China are yet to stagnate and so are number of infections across globe. The deaths have crossed 2000 and...

protrader1969

For paucity of time, today I am posting this short piece. I hope few traders were able to make money on short that I marked yesterday since Nifty reversed from our Selling area in first 5-7 minutes without giving much time reflect. FIIs and DIIs were net sellers today though the volumes of sale were not great but it does tell you that larger trend is bearish....

protrader1969

The supreme court verdict, rather terse comments on its earlier verdict, on AGR dues on Friday triggered a sell off in Banks and in Vodafone Idea and Infratel specifically. That also created an atmosphere of gloom in already gloomy scenario in Indian and global markets due to corona virus outbreak. Nifty fell by around 61 points and Banknifty by around 395 points....