protrader1969

protrader1969

Banknifty made a new lifetime high today. The buying in banking stocks is driving BNF and that also is responsible for Nifty’s rally. BNF made a doji candle with higher high, higher low and higher close. Unfortunately, there are no clear-cut buying levels in BNF due to move seen today. On 15 min chart, I have marked a buying area which was shaped due to sharp move...

protrader1969

The strength in Nifty was there to see today. I am talking about strength in Nifty and not in Indian stock markets or in economy. Please check my video posted on youtube under name Market Movers India for slightly more but similar content. Nifty, Banknifty and Sensex, but, are rallying on a different plane. Nifty traded in a very narrow range with very less...

protrader1969 Updated 

Nifty made a new lifetime high today, 12132 and also gave highest closing of 12037.70. And as expected after opening gap up in morning, could not sustain highs and profit booking started in second half and took it down. It made a strong red candle on daily chart. Please check my video posted on youtube under name Market Movers India for slightly more but similar...

protrader1969

Banknifty (BNF) today opened gap up and made new lifetime high,31813.70. Then, due to profit booking in second half went down below 31500 but again resurged on heavy buying and created new lifetime high of 31850. Such is the strength in Banknifty. Please check my video posted on youtube under name Market Movers India for slightly more but similar content. So if...

protrader1969

It was out of textbook rally today. No great local trigger, no great local news w.r.t. markets but Hang-Seng jumping by around 460 points (on the back fo Trump's quote regarding US china trade war) is what our markets opened with. And, the rise continued. I attempted to short twice and got stopped out…twice! Please check my video posted on youtube under name...

protrader1969

Today, Banknifty openned gap down by 46 points but quickly joined hands with Nifty and together they demolished all resistances in their path and rallied by handsome margins. BNF increased by 444 points over yesterday’s close and in process rising above 31500, a psychological mark and creating a very strong bullish candle. Please check my video posted on youtube...

protrader1969

On Friday, both Nifty and Banknifty dropped convincingly. What does that mean? Check open prices and high prices. Both have open price very near to high made that day and low very near to closing price. Nifty fell on Thursday too. So does it mean that Nifty is on downswing? Please check my video posted on youtube under name Market Movers India for slightly more...

protrader1969

Banknifty (BNF) fell by 238 points on Friday to create a strong bearish candle on daily chart. BNF too had opening price quite near to high price and saw a consistent fall throughout the day. This created a selling area which is marked on 15 min chart. Please check my video posted on youtube under name Market Movers India for slightly more but similar content. For...

protrader1969

Yesterday’s rise was surprising and today’s fall too. One would have expected Nifty to remain above 12000 after yesterday’s stellar performance. But it seems Global markets dominated our opening and then throughout the day Nifty remained down despite Banknifty’s best efforts to pull it up. Result was, Nifty closed much lower than yesterday. Please also check the...

protrader1969

Banknifty today was much stronger than Nifty and kept making higher highs and higher lows after initial fall but Nifty was too weak to rise. It finished as a Base-like candle with lower high but higher low. Please also check the youtube video posted under name Market movers India with more content. For Banknifty, 31500 seems stiff resistance like 12000 remains for...

protrader1969

The gap was not expected but the rally was expected. Nifty did create a new high in recent times and as one would expect profit booking did come and dragged it down till 11999. Yet it closed 59 points up, an impressive rise. Also check the you tube video under the name Market Movers India with similar but slightly exhaustive content. FII & DII data: Today both...

protrader1969

Banknifty too opened with a gap like Nifty but gap was bigger in Nifty. However, BNF closed above openning price finishing as a green Doji candle. Also check the you tube video under the name Market Movers India with similar but slightly more content . 31,500 is going to offer some resistance and that is why it will consolidate there. Tomorrow being expiry, option...

protrader1969

Nifty today looked bullish and closed above 11900, a crucial level where Bulls and Bears were equally poised. Nifty closed 55 points up and finished as a base like green candle. Please also check my youtube video under name Market Movers India with similar but slightly more content for daily levels.FIIs were Net Sellers today by 915 Crs and DIIs were Net Buyers...

protrader1969

Banknifty today looked very strong probably due to strong showing by almost all public sector banks and fuelled Nifty too. It finished as a strong full bodied green candle with higher high, higher low and higher closing price than yesterday’s candle. There is no selling area since BNF continued to rise. However, there is a buying area as indicated on 15 min chart....

protrader1969

Nifty was rangebound today. Save for the first 15 minutes, throughout the day, it remained below 11925 and above 11865, a range of around 60 points at max. Let us see what other data was. 1) FII & DII data : FIIs were Net Sellers by 270 Crs and DIIs were net Buyers by 309 Crs. Both the amounts are too small for any conclusion to be reached. 2) Option Chain data:...

protrader1969

Banknifty (BNF) was clearly strong today than Nifty initially. It went up and tried to break 31205 high that it made on 11th November but faced severe selling and came down. In a way, BNF was also rangebound like Nifty. It largely remained between 31100 and 30900, a range of 200 points. In option chain, total call writing near CMP is better on Call side than that...

protrader1969

Number of Rating Agencies, think tanks and brokerages have recently given out their estimation of what FY19-20 GDP would be around. The latest one to offer such data is NCAER (National council of applied economic research) , one of the oldest independent think tanks. It has pegged India’s GDP growth at 4.9%, so far the lowest of all estimations. Others before...

protrader1969

Banknifty is behaving strongly as compared to Nifty. On Friday, it opened with a gap and finished as a base-like green candle. In the latter part of the day when markets started unwinding, Nifty did break its day’s low made in first 15 mins but BNF didn’t fall that much and closed above opening price. However two things bother me if we see BNF. One, high made on...