sreebhashyam

sreebhashyam

Nifty bank has been performing fairly well in the recent fall. PSU banks have led majorly the upside while some selective private banks like AXIS held the nerve. Bulls hold the fort strongly 37200 while any close above 39000 closes the debate for bears. Advantage for bulls is the indication above this level. The Risk Reward on event day like budget is skewed with...

sreebhashyam

Nifty, week beginning gap opening encouraging for bulls. Global cues mixed to positive adds to the corrective bias. For the bulls supports remain 17080 or psychological 17000 bears lost near term supply zone 17300 so some more ground they may have to cede to the bulls bigger frame range 16900-17900 remains in tact. Market broadly would consolidate within this...

sreebhashyam

Nifty bank led the support in recent down move. Many parts of it holding or moving higher. Of the major Indices this supported the main index. However, on Friday it lagged and was sold of from the important supply zone. Growing by the concerns of Bond Yields both local and global. Central Banks being behind the curve can be some reasons. FPI selling not...

sreebhashyam

Nifty bulls failed to hold the gains and ended the day flat. Ahead of budget tomorrow ideally the market should remain in range. Supported by overseas clues and oversold zones. Growing rise in crude prices and stormy political debate, FPI Jan Sell off mode are the potential dampeners. 16900-17600 is the larger zone and close above this is required if bulls have to...

sreebhashyam

Nifty bank helps the overall sentiment in check while taking the lead role to hold the main index in further deterioration. Bulls held on to the open mayhem and took that as opportunity. One more time the PSU Bank pack did very well and appears to continue the momentum for some more time. This can lift the whole PSU Boat. Places like Can, PNB, BOI are worth...

sreebhashyam

Nifty hit one more low towards the last week low and bounced off one more time. With budget in couple of days, week end to play the support while worries on global cues to keep a lid. Hence, local hopes, expectations to play in the next one week than global cues (sans larger moves or clues). Near term 1695017000 is the support while 17300 is the supply zone. Any...

sreebhashyam

Nifty bank, bulls come back in style recovering the previous day lost glory. Out of the many Index Nifty Bank and Auto recovered all the lost ground. However, the cannot remain muted to the broad market moves (Though exceptions can remain within this sector like Axis Bank and Maruthi in Auto). Bulls can take home that they captured back 37200 while bears can...

sreebhashyam

Nifty bears hit in open vital 16800-900 area spent most of the day in negative. The recovery led by the Nifty Bank. Finally the holiday and the event led (FOMC) pushes the space for short covering. Many could have been driven to this rally as bottom and that would remain short lived. The bigger question is will we move ahead of Budget or we go lower and stay for...

sreebhashyam

Nifty bank, bulls as explained despite encouraging results failed to cash in on the back drop of heavy bear assault all through the market. Out of N50 Stocks only 2 are green. Out of 500 stocks only 20 are green. Such is the furore the bears created. Not the we have not witnessed complete reversal the following day. That needs to be seen today. It may not be as...

sreebhashyam

Nifty the fall is sharper, wounds deeper. Bears assert all their might now that the new year (Jan) euphoria is behind. Reality strikes all over and the bulls run for cover. The fall has been much against our expectations in terms of timing. This pushes the bigger worries ahead as most of the index punches bearish count and many areas of individual spaces print...

sreebhashyam

NIFTY BANK, the recent robust results of individual spaces were very good but the price action that followed was down. That tells the underlying story. Will that be different this week is the question. On the Index 37100-38100 is the range violation on close basis this range would be vital for either direction. Broader market moves suggest some lower level...

sreebhashyam

Nifty hit the lowest of the expected fall almost towards 17500. The close in the last half hour was quick and one needs to see how this pans out. The cues are mixed mostly a negative tone than positive tone. However, the bargain hunting buying would surface on Friday lows and the should provide some relief. Bulls need close above 17750 for relief and above 17880...

sreebhashyam

Nifty bank bulls failed to hold and broke the 37900 area did go down but held on the broader market hitting support around the 17650 area. The canvass does not appear well for the bulls and the risk is they loose 37200 (vital) and may push towards 35500 area (not for the day though). In sum the bulls are capped by 38400 and risk towards 37200 as first target. A...

sreebhashyam

Nifty bulls lost the plot completely and are at odd about their journey. The failure 18350 and subsequent break below 18080-40 triggers move towards 17800; the fall yesterday to the deepest low around 17650 (the minor bounce from there) all points to the weakness at top and worry in search of the bottom. Risk off is pervading the markets. The 17580 close is vital...

sreebhashyam

Nifty bank held the first assault around the 37900 and closed tad above 38000. However, the weight of the evidence still not suggesting the downward pressure is abating. With weekly expiry one needs to see if what is in store. 38300 clearly is the supply zone while 37300 attracts. Both these levels are supported by large bull and bear candles for the rage (see...

sreebhashyam

Nifty bulls get their reality check after two weeks of January effect. The question that rings in many minds is this the beginning or is this the end. There are not clear answers at this stage. (Remember in long term no Index turns down, they posses survival bias). Bulls lost 18080 vital support and that is now the resistance and remains the trailing stop if...

sreebhashyam

Silver is in the news and remains in the know. The upmove yesterday confirms the strong interest in this space and thus continue to favour the upside. As part of the wave we have the truncated wave 5 and the beginning of next impulse to the upside. Within this impulse we completed wave two and yesterdays break start of wave three should try 25 plus area. Suggest...

sreebhashyam

Gold has been muted actor in the recent drama that is unfolding in Financial markets. Being it equity, interest rates or the FX. However, this throws couple of curious points regarding its probable price trajectory. Is it in its way up or weighed down by the mighty dollar. The dice is not clear yet. However, it s worth getting the set up right early in the move....