protrader1969

protrader1969

Nifty made impressive gains on Friday. When IIP and CPI numbers were released on Thursday, I thought that it would cast its effect on markets next day. However, tweet from Trump signalling that US and China are likely to reach trade agreement soon and Boris Johnson’s win paving way for Brexit, did pushed our markets up. Later in the day markets, I felt, could have...

protrader1969

Unlike Nifty, Banknifty (BNF) gave ample signals of what’s going to come in latter half. As written in my post about on Nifty, Nifty did not break its earlier high and low for more than 4 hours. But BNF kept on making higher highs and higher lows periodically, which clearly told us how the move was going to be in latter half. However, this was today and that is...

protrader1969

In first 10 minutes Nifty made a low and in first 35 minutes, Nifty made a high. Then for next 4 ½ hours it did NOT break those high and low levels. That told us 2 things – 1. If nifty was expected to go down after yesterday’s sharp upmove during last few minutes, it was not going to be, and 2. Since it was expiry day, second half move will definitely take place,...

protrader1969

A sharp run up in indices after 2.40 pm propped Nifty by almost 90 points and closed above 11900 level. At around 2.35 pm when Nifty was at low of 11832, Banknifty was at around 31000. So both were at their crucial supports and hence, I think, buying emerged in indices. Please check my video posted on youtube under channel name Market Movers India for slightly...

protrader1969

There are interesting developments in Banknifty (BNF). Out of it’s top 5 heavyweight (meaning which contribute for more than 75% of BNF’s weightage) scrips, SBI reversed from a low of 100 DEMA (100 days exponential moving average), Axis Bank’s Low was very near to 200 DEMA and HDFC Bank’s low was very near to 50 DEMA; ICICI bank and Kotak Bank are already in blue...

protrader1969

Banknifty (BNF) finished as a strong red candle on daily chart with lower high, lower close but slightly higher low as compared to yesterday’s candle. So BNF was looking quite strong today but Nifty not supporting it too went downhill in 2nd half after European markets opened. Please check my video posted on youtube under name Market Movers India for slightly more...

protrader1969

Nifty had yet another major fall today after yesterday’s Doji candle and made a strong red candle with lower high, lower low and lower close with 14 advances and 36 declines. FIIs were net sellers by only 367 Crs and DIIs were net buyers by only 338 Crs. So how did this massive fall of 80 points come around? I have talked in great detail about this in the video...

protrader1969

Banknifty was much more weaker than nifty on Friday. Out of 5 heavyweight constituesnts on BNF, which contribute more than 75% on its weightage, only one Kotak Bank closed in positive (1.52%), HDFC abnk remained flat (0.04%) and remaining three- ICICI Bank, Axis Bank and SBI fell by 0.62%, 1.60% and 4.82% respectively. Yes Bank aand indusindBank too fell...

protrader1969

A day before, in my post for 6th December, I had said clearly that inflationary pressures, weak economic outlook and and consumption woes will not let markets move up. Least did I know that the fall would be so severe. It demolished all strong, or so called strong, supports on Nifty's (and Banknifty's too) charts and triggered stop-losses. Nifty closed below 20...

protrader1969

The market had expected and already factored in a 25 basis point rate cut in repo rate from today’s monetary policy. However, when that did not happen, markets fell- now that’s what experts believe! But when you see today’s charts, if this were true, then how come Nifty after fall, climbed up almost to pre-policy announcement levels ( nifty at 11.30- 12070 and...

protrader1969

Banknifty made a very strong green candle with higher high, lower low and very higher close thereby creating bullish engulfing candle. Banknifty was stronger as compared to Nifty. I could not post on this forum yesterday due to lack of time but I had posted my regular video on my youtube channel, Market Movers India, and in it I had expressly told not to short...

protrader1969

I could not post on this forum yesterday due to lack of time but I had posted my regular video on my youtube channel, Market Movers India, and in it I had expressly told not to short Nifty or Banknifty today because probability of a strong green candle after three strong red candles is more than 90%. And that is what happened. Please subscribe to that channel....

protrader1969

Nifty opened with a big gap- 80 points up! And then the inevitable happened. It fell down along with Banknifty. It came quite close to 12000, made a low of 12023.70 and then went up again. Conclusion: it didn’t go below 12000! But it also did not go up. So it now seem that Nifty is likely to consolidate between 12000 and 12150. Please check my video posted on...

protrader1969

Banknifty today also made a bearish candle like Nifty but with a long lower wick indicating that some buying did push its closing price. BNF finished as a red candle with lower high, lower low and lower close than previous candle. This is 2nd such occurrence in a row. Hence tomorrow’s move is crucial. If the uptrend needs to be intact, BNF should make a strong...

protrader1969 Updated 

Banknifty looked much stronger than Nifty on Friday too. It did not break its previous lows easily and recovered lot in second half. On daily chart, it made a hammer like candle with lower high, lower low and lower closing price than yesterday’s candle. The effect of GDP figures will be felt on Banknifty too but again, since it is on much stronger footing, the...

protrader1969 Updated 

On friday, Markets fell by 95 points but bigger news came in the evening when NSO released GDP figures for Q2FY20. The GDP growth of 4.5% is definitely on lower side and so were all the figures except govt expenditure, which increased in Q2FY20 from Q1FY20. I have talked in great detail about these figures in the video posted on youtube under channel Market Movers...

protrader1969

Banknifty made a strong green candle on daily chart with higher high, higher low and higher closing price, like Nifty. Today PSU banks were on fire. Though BNF contains only 3 PSU banks and that too very low weightage, increase of more than 4% in BoB and PNB must have added their share in the rise in BNF. Please check my video posted on youtube under name Market...

protrader1969

The forward march continues. Both Nifty and Banknifty made new lifetime highs today. The rise in both the indices was slow and steady. That reflects strength, at least in near term. Please check my video posted on youtube under name Market Movers India for slightly more but similar content. Let’s check our usual data which in its own way show where the smart money...