protrader1969

protrader1969

Please read this post along with my post on Nifty for complete perspective. The supreme court comments on AGR dues of telecom companies triggered a sell off in Banks. According to a credit suisse report, total exposure of Banks to the telecom sector is at around 1.3 lakh crores lead by SBI (34,500 Crs) and HDFC bank (24,520 Crs) and host of other banks. Actually...

protrader1969

Please read my post on Nifty also to get complete perspective on markets. Banknifty (BNF) was much stronger than Nifty, today, if charts are to be seen. It ended slight above the opening price after the slide from high and also stayed above its opening low throughout the day. However, 31500 still looks a strong resistance and hence larger bracket remains as 31000...

protrader1969

Nifty closed with 76 points at around 12,108, however, if one analyses chart we will see that Nifty’s rise till 12172 from openning price of around 12,108 was completely wiped off when it went below open price later in the day and closed at 12108, just 9 points above low of 12099! Corona virus has claimed more than 1000 lives in mainland China and number of...

protrader1969

Please read this post along with my post on Nifty to get complete perspective. Corona virus threat is back to haunt markets and that is showing on world indices that closed in red on Friday night. Please check my video posted on youtube under channel name Market Movers India for slightly more exhaustive and analytical content where I have talked a bit more about...

protrader1969

Friday night saw negativity return to stock markets. DJIA and other European markets ended in red. One reason could be the Tencent (biggest tech and media conglomerate in China) report which mentioned the death toll at much much higher (24,589) than official figures on their website for a very brief period after which they put out Chinese govt figures (around...

protrader1969

Banknifty (BNF) was muted till monetary policy was not announced. Once it was clear that repo- rate remained unchanged, BNF moved to next gear and rushed up. So did almost all public sector and private sector banks. So if you compare Nifty’s run with BNF, it finished as a strong green candle on daily chart. Please check my video posted on youtube under channel...

protrader1969

Continuous fourth day of rise for Nifty but it made a base-like candle and not a strong bullish candles like it made in last 3 days. Corona virus outbreak has ensured that oil is near $55/barrel and Chinese government has announced that it will pump $174 billion in Chinese stock markets. That has stemmed the fall in Chinese markets, in Asian markets and hence in...

protrader1969

Like Nifty, Banknifty (BNF) too made a strong bullish green candle on daily chart. However, if you track both indices on say 5 min (or on 15 min) chart you will see that Nifty kept making higher highs till even 3:05 pm, BNF made its high at around 11:50 am and then just didn’t go past it! What does it mean? It shows that BNF is way far weaker than Nifty is, and...

protrader1969

World markets were in green in the morning and that ensured gap-up opening and then with cautious steps Nifty climbed 271 points to close at 11979. The low was very near to open and close was very near to high- which shows how systematic was the rise. What contributed to such phenomenal rise, apart from positive world markets? Two news items, in my opinion,...

protrader1969

Nifty had few reasons to fall but why did Banknifty fall so much? In my opinion one reason could be hiking the deposit insurance from 1 lakh to 5 lakhs. Please read this post along with post on Nifty to get complete perspective. I think Banknifty too like Nifty can bounce back tomorrow if Asian markets are not opening too much in negative territory. Banknifty too...

protrader1969

Why did the market fall so much? This must be question on everybody’s mind yesterday.Well let’s see what market was expecting? 1) Abolition of LTCG. 2) Abolition of DDT. 3) Some Relief to people in general by reducing Personal income tax burden. What was delivered by FM: 1) LTCG remains and so does STT– Big disappointment for market. 2) DDT scrapped for Companies...

protrader1969

Please read this post along with that on Nifty to get full perspective. All the things about trading tomorrow that I said about Nifty also go true for Banknifty- meaning that tomorrow it is friday and a day before budget day. This in effect meanns that not big moves are expected tomorrow. But I must point out some recent developments as far as BNF's daily chart is...

protrader1969

Tomorrow is friday-first day of new weekly and monthly series and a day before annual budget. So is there any reason why institutions would trade/invest big money tomorrow? NO. So do not expect big or even significant moves tomorrow. Having said that, One threat still looms large over minds of marketmen, which can bring big moves to our stock market- What new will...

protrader1969

Today's recovery was expected since after two days of sustained fall, world markets closed in green last night and SGX Nifty was trading in green at our openning times. However, if you see intraday movement, Nifty could not sustain highs. So it openned around 60 points up from yesterdy's close and closed around14 points above openning price. So intraday rise was...

protrader1969

Due to lack of time, posting this short piece. Please read this along with post on Nifty for tomorrow. Banknifty, on daily chart is on the lower edge of Bollinger band and with current situation in world and Asian markets, it might continue to be on the edge since news from China is not encouraging. So it makes sense to short sell BNF. Due to massive fall today,...

protrader1969

Due to lack of time I am posting a smaller version. Corona virus is wrecking havoc across world markets. All european markets are down by more than 2% and DOW JONES INDUSTRIAL AVERAGE is down by 470 points (-1.62%). FIIs were net Sellers today and DIIs bought and sold almost same amount so no particular direction from DIIs. Option chain build up shows 12,200 as...

protrader1969

Please read this post alpong with that on Nifty to get complete perspective on markets. Banknifty (BNF) was slightly weaker than Nifty on Friday even though it did increase by 237 points. ICICI bank results, announced during weekend might uplift it a bit tomorrow since ICICI bank has good weightage in Banknifty. However, Asian markets on the back of Corona virus...

protrader1969

Nifty gained around 68 Points to close at 12248 on Friday. During weekend two important things happened. The extent of Corona virus outbreak was felt by America, when DOW dropped by 170 points, where now third case is detected and in China’s Wuhan, death toll has risen to 51. China is fighting this crisis on war footing. But tomorrow Hang Seng and other Asian...