protrader1969

protrader1969

Banknifty (BNF) was on strong footing today for reasons mentioned in yesterday’s post. However, one important fact I failed to mention in my post yesterday and that was that BNF has broken the neck-line of Head-and-shoulders pattern which means that bearishness is set to deepen. This along with yesterday’s close below 100 DEMA tells me that Buying in BNF is yet...

protrader1969

Nifty today broke three day fall and made a small green candle with lower high but higher low and higher close with 73 point gain. Both the levels –Resistance, R1 and Selling Area were respected today by Nifty. Nifty gave its first reversal from R1, came down and gave good gains to people whoever took that short trade. I took the long trade after that fall which...

protrader1969

Today too, Banknifty (BNF) made yet another LL and LH as compared to previous day’s candle on daily chart and fell below 30700. Please check my video posted on youtube under channel name Market Movers India for slightly more analytical content There are three things one must observe in BNF’s daily chart: 1) BNF is still cruising outside lower limit of Bollinger...

protrader1969

Nifty continued its downward slide today too falling by around 63 points and closing at around 12107 approaching the lower limit of secondary channel that I have been talking about in last few posts & videos. Please check my video posted on youtube under channel name Market Movers India for slightly more analytical content. Today’s provisional figures show that...

protrader1969

Banknifty too, like Nifty, made a massive red candle on daily chart. But unlike Nifty, which slipped from its lifetime high, Banknifty was not at its lifetime high and yet went down. HDFC bank, which posted OK results on Saturday fell down by 1.82% and Kotak bank whose results were announced during market hours despite prior knowledge that they won’t be good,...

protrader1969

It was the day of reckoning for Nifty and Banknifty both. Nifty opened at lifetime high (12430) and that became today’s high! It slipped down with great speed. I had been writing that if you see on daily chart, Nifty is now at tops on primary as well as secondary channel and a fall or correction is soon expected. Please check my video posted on youtube under...

protrader1969

Nifty made a higher high and higher low candle but Banknifty made ‘almost same high and a bit higher low candle’. So BNF did exibit a bit of weakness. Today, like an obedient student BNF moved between two limits that I marked yesterday on 15 min chart. It reversed down from yesterday’s high (which was marked resistance) and reversed up from buying area that was...

protrader1969

Today’s expiry was not as explosive as normally the expiries are. The range of Nifty was confined to just 73 points. Like an obedient student it did not cross 12400 since it was resistance and it came up from 12315, just before our marked support on chart. So whosoever did take long trade there, got good reward. But then, expect some volatility tomorrow. For last...

protrader1969

That Banknifty is weaker of the two indices was once again proved today when Nifty retraced its entire fall in second half but BNF just could go only half-way. Indusind Bank extended its yesterday’s fall by more than 5% and SBI too was among top 5 losers in Nifty stocks. So BNF did pay its price. So clearly, look at shorting BNF but going long for Nifty. Please...

protrader1969

After 4 days of continuous ‘higher highs and higher lows’ candles (as compared to the previous day) today Nifty finished as a Doji candle with lower low and lower high. But make no mistake, Nifty is not weak yet. Consider this, Nifty open price=12349.40; Low = 12278.75; Closing price = 12343.30. The fall after opening is of 70 points and then recovery from low to...

protrader1969

Please read this post along with my post on Nifty to get complete perspective. Very rarely we see that Nifty and Banknifty (BNF) are moving in opposite direction. Today we saw that divergence and probably tomorrow too, we may see that again. Nifty made HH (Higher High) and HL (Higher Low) candle on daily chart whereas Banknifty made LH and LL candle with open...

protrader1969

Today too, Nifty created another high and another closing high. On the other hand, Banknifty slipped. Nifty is really very strong and this comes across from all sources. FIIs and DIIs, both were net sellers today by 205 Crs and 642 Crs respectively. And yet we may wonder how nifty scaled another lifetime high? If you look at individual buy and sell figures and...

protrader1969

Like Nifty, Banknifty too restricted its entire day’s activity between high and low achieved during first 15 minutes. But range was bigger and banknifty was weaker amongst the two since it’s highs kept going lower. Except Yesbank, every other bank looked stronger today. On daily chart, Banknifty finished as a doji candle with lower high but higher low. A selling...

protrader1969

Yet another lifetime high (12337) and lifetime highest closing price (12329) was achieved by today by Nifty. It can go further up too since the intraday low of 12287 was just 50 points below high. Nifty restricted its entire day’s activity between high and low achieved during first 15 minutes. But such is the strength of Nifty that even though it just snailed its...

protrader1969

Banknifty (BNF) and Nifty both openned gap up due to easing of geopolitical tensions. BNF made a strong green candle with higher high, higher low and closed above 20 DEMA. But after 1.30 pm, got plateued and didn't rise unlike Nifty which continued to rise. So Same dilemma, which face Nifty traders, is with BNF as well. How to trade BNF tomorrow? Please check my...

protrader1969

As geo-political tensions eased yesterday due to deliberate wrong bombing at US airbases in Iraq, by Iran and, Trump and Iran both toning down their belligerent stance, oil dropped, dollar (as valued against Rupee) dropped and markets jumped across globe. So it was clear that we will open gap-up today last night itself. But from here on where will Nifty go, is the...

protrader1969

On daily chart, Banknifty today made identical red candle like Nifty but with more body and low much closer to yesterday’s low. The fall in banks and finance companies came quickly and pulled down Nifty yesterday and today too. Yesterday BNF closed below its 50 DEMA but today, after opening gap-up penetrated it but closed above. The 5 main constituent banks which...

protrader1969

Last night when US markets closed in positive by 68 Points, this morning Asian markets took cue and opened in positive too. SGX Nifty indicated an impressive gap up by around 68 points. So we opened with a gap and went up for around half an hour, clocked a high of 12152, before starting to come down just above12000 levels. So 12000 level still held good today. Oil...