protrader1969

protrader1969

Banknifty’s (BNF) fall on Friday was much deeper as compared to Nifty. BNF made a strong red candle with lower high, lower low and once breached the crucial 32000 level before recovering a bit and closed just above 32069. So it broke 1st January’s low and also touched 26th December’s low. In the process it broke 20 DEMA (32,023) too but then recovered and closed...

protrader1969

Friday morning, markets opened to shocker from US. Elimination of General Qassem Soleimani in a raid spooked world markets. On Thursday, US markets had jumped by 330 points to close at record high. But party was rocked on Friday morning. For us, two bothering issues came to fore - Oil and US dollar. Brent crude rose by 3% in the initial trades and now is trading...

protrader1969

Banknifty too made a strong green candle today, overshooting yesterday’s and Tuesday’s high. The buying was all round today. In the first half it appeared that Nifty was strong and dragging BNF along but in second half it seemed to me, reverse was the case. Banknifty is in the strong momentum. Please check my video posted on youtube under channel name Market...

protrader1969

In exact contrast with yesterday when levels I wrote about were honoured, today both the indices broke the prescribed levels and triggered stop-losses. What a face-off! Such was the ferocity of rise that Nifty created a bullish engulfing candle overshooting highs made during last 3 days and stopped just 4 points short of its life time high. Please check my video...

protrader1969

At the cost of blowing my own trumpet, let me say that it rarely happens that levels I prescribe for Nifty and Banknifty (BNF), both get honoured. Today was one such day, so I hope few traders did earn something. Though the trading range was narrow and volumes low due to 1st January taken off by many, 50 point profit in Nifty and 200 point profit in BNF was...

protrader1969

Frankly speaking, it rarely happens that levels I prescribe for Nifty and Banknifty (BNF), both get honoured. Today was one such day, so hope few traders did earn something. Though the trading range was narrow and volumes low due to 1st January taken off by many, 50 point profit in Nifty and 200 point profit in BNF was achieved. Now what about tomorrow? Please...

protrader1969

That banknifty and Nifty are looking to fall was clear yesterday, but I couldn't comprehend that the fall would be so severe that it would demolish 12200 so easily. As I wrote in my post on NIfty, Nifty formed an evening star pattern and now hence looks like it will start going down bit by bit. Banknifty has not formed any such pattern but finished as a strong red...

protrader1969

Nifty made a strong red candle on daily chart and formed a perfect evening star pattern which we know as a potential reversal pattern. Here onwards, therefore, Nifty might start going down. How much down it will be? That we don’t know as yet. So what I said yesterday in my video post on youtube under channel name Market Movers India, which I post everyday, is...

protrader1969

Nifty made a kind of Doji red candle which closed with higher high, higher low and higher closing price. The initial rise got capped at 12286 when Banknifty reached 32600 level and from thereon it started coming down. It went down heavily and made a low of 12213.8 before bouncing up from a buying area demarcated yesterday near 12207, and staged a smart recovery...

protrader1969

Banknifty made a base like red candle with higher high, higher low but lower closing price. Normally in an uptrend this type of formation on daily chart would mean that tomorrow we see another green candle with higher high and higher low, but since BNF is at life time high, this looks unlikely. With negative news generated by Financial stability report by RBI...

protrader1969

Banknifty’s strength pulled Nifty to massive heights on Friday. A strong buying emerged in all public sector banks due to second round of RBI’s operation twist (meaning RBI auctioned or sold short term Securities and simultaneously used that money to buy long term securities to reduce the interest on Long term bonds). This also helped buying in Axis Bank and ICICI...

protrader1969

Nifty opened Gap-up due to strong global cues and kept on going up, increasing by around 1% and closed just below 12250 on Friday with 42 advances and 8 declines. So it was impressive and convincing march after 2 days of fall. Very few must have expected such massive rise. Both FIIs and DIIs were net buyers albeit in small numbers. Option chain shows very strong...

protrader1969

Banknifty was much stronger than Nifty on Tuesday and it made a kind of red Doji candle with lower high and higher low. Banknifty was traded in much tighter range. Please check my video posted on youtube under channel name Market Movers India for slightly more analytical content. On daily chart, Stochastics indicator is at 92 with bearish crossover done on...

protrader1969

After a long time Nifty made a red candle with lower high and lower low. Tomorrow being expiry, some wild moves can be expected. Please check my video posted on youtube under channel name Market Movers India for slightly more analytical content. Due to year- end holiday season, volumes could be muted, as was evident in provisional figures of FIIs and DIIs on...

protrader1969

On Friday, Banknifty (BNF) behaved strong. For last few days, it was Nifty which took the lead but on Friday it was BNF’s turn. So it finished as a strong green candle albeit with a very small range of 243.9 points. Nifty too moved in a narrow range of 41 points. So, how it might move on Monday and day after? If we look at daily chart, BNF yet again made higher...

protrader1969

Today's trading range must have been most narrow trading range when Nifty is at lifetime high. The difference between high and low levels for Nifty today was 41.15 points. For first time today, in last so many days, the high made in first 15 mins was not breached by Nifty throughout the trading session. Now that does not mean Nifty is showing weakness. Banknifty...

protrader1969

All the three- Nifty, Banknifty and Sensex made new highs today! Nifty and Sensex closed at record close. So how does one trade indices at these levels? You cannot short since it is in strong upward momentum and you cannot long because you don’t know when the upmove will stop! Let us check our data thoroughly to get hold of situation. FIIs today were Net buyers...

protrader1969

Please read this post along with my post on Nifty to get complete perspective on markets tomorrow. Banknifty too like Nifty finished as a strong green candle on daily chart with with higher high, higher low and higher close as compared to yesterday’s candle. Please check my video posted on youtube under channel name Market Movers India for slightly more content....