sreebhashyam

sreebhashyam

Nifty bulls failed. The flash advise worked perfectly and the close is classic. (It closed near bi-monthly ATH). However, the weight is too much to hold and the bears are staring around the 17600; that is 38.2% of the retracement of the rise from 16400 to 18350. Near term Minor support 18080 that should give way by gap down, psychological 18000, one decent around...

sreebhashyam

Nifty bank bulls kept the flat high almost through the day lead by the news of FM press conference. However, towards the later part of the day bears kept their hopes intact and pushed for control. Global cues did not help the bulls. Failure of 38800-900 and subsequent break below 38400 bulls gave up and closed in red. Now the real threat. Loss of 37900 (more...

sreebhashyam

Nifty bulls failed to scale the 18350 and from there the fall is sharp and quick. Shorts here with stop 18318 for move first towards break of 18180 and then towards 18080.

sreebhashyam

Nifty bank continues to fail around the 38800 area. This is despite the industry heavy weight printing very positive results and it looses its grip. The index continues to drag the major index else it would have already printed the new ATH. 37900 is the near term support if we loose then the deeper correction is on the anvil. Continues to term this as corrective....

sreebhashyam

Nifty remains shy of ATH just another 1%. The cues continue to be positive despite the underlying discomfort. Does the ongoing move simply the January Effect. The answer appears to be yes. Raising interest rates in US so far is taken positive as robust economy and hence this space needs a watch not a worry. The trendline support slightly moves higher towards...

sreebhashyam

Nifty Bank remained softer below the 38800 area and remained negative. The over the weekend results of HDFC Bank needs to be seen if it can send positive signal to this index as well as the main index. For the bulls Commodity, Energy, Metal, IT and Auto are already itching to post new ATH while FMCG, Pharma are lagging, Banking Remains in the middle. 38100-38800...

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Nifty bulls make remarkable stability to close flat. What it does not tell is the time it spent in negative territory. For the bulls a) the bi-monthly close is at life high b) the Weekly close is positive c) it so far ignored the negative overseas cues. For the bears the market cannot ignore the negative cues longer b) Bank Nifty remained negative c) China CRR cut...

sreebhashyam

Nifty bank, as suggested bulls failed and closed in decent red. Usually Nifty bank has major influence on the parent index sans yesterday metals move. Clearly the stronger 39000-18300 area in both the indexes holding the upmove. It is recovery of profits that would push the move down rather than bears attack. However, bulls need to be careful as any move below...

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Nifty bulls and bears slug it out. Bears gain upper hand in many individual sectors, but Metals steel the show. This larger gain impacted the main index and prints marginal green. However, the area 18200-350 is practically no man's zone. This is confirmed by the volatile moves. The steep rise from 16400 to 18300 warrants a corrective move and this can go as far...

sreebhashyam

Nifty bank bulls continue to punch their way higher. With expiry on the way 39000 is the hurdle to pass while 38000 is the base. Ideally this is the floor and cap for the day. Even the major Index mimicking the same story. However one move below 39140 is what one can look for while the base around 38200-400 on close basis is in tact. This is completely a...

sreebhashyam

Nifty bulls continue to run on euphoric moves past 18150. Why this closing price matters is the question. 18100 closing price for this week is the life bi-monthly closing high. This is important mile stone. Above this area the next hurdle is 18300-350 area. This are at least once should give supply jitters to the bulls else we are on way to print ATH and move much...

sreebhashyam

Nifty bank, optically overbought or extended is not reflected in the price action. Thus the proof needs to be in the pudding. Though intra-day the price action did go negative (suggestive of possible top ahead of weekly expiry), bulls redrawing their base successive day. While this hold the broader market and global cues and stronger rupee aids in bulls further...

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Nifty bulls continue to make further in-roads. Yesterday up move (despite getting sold around the 18100 area close is near the top of the range suggested. Bull Make Strong Return (First R), Verticle Rise (Second R), put behind the worry on Rate hikes in US (third R). With the kind of the up move (still room for other sectoral indices to follow suit. If at all any...

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Niftybank, further prints move past 38200 (against our expectation). This pushes the index in similar place like that of the major Index towards the 0.618% of the re tracement which marks around the 38400-600 area. The good thing for the bulls is the base has moved higher now around the 37500 area and focus remains around the 38600-800 area. Continues to favour...

sreebhashyam

Nifty bulls move past 17940-950 area in quick succession and close above the vital 18K mark. Considering the speed one more high is not far away. However, the move past 17950-18000 appears excessive. Any extension likely to face hurdle around the 18100-150 area. Yesterday was a day of broader market participation and hence the bulls hold both the breadth and...

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Nifty bank bulls after the strong rally continue to face hurdles in the zone of 0.38% and 0.5%. The rally from the new base of 37000 is highly encouraging. While the price action may suggest like a pause on close basis, it is actually time bound correction that is on here. The new base shifts to 37200 while this hold 38200 is a level bulls try to conquer. This may...

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Nifty bulls print strong move, covering the gap of 6th Jan in style. It is that time of the year where local factors, hopes and expectations drive than the cues from global markets. This detachment helps bulls in case the cues are negative. Bulls hold the upper hand and there are signs of rotation. Rotational move expected to come from Commodities, Oil and Energy...

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BTC sharp fall rises eyebrows, whether this time is different. Last time also similar moves appear around the 20000K from there it move to print 60K. We did recently attempt 30K and bounce back more or less towards 60K. The fall below 52K triggers moves to around the 40K. Two probable a) it would correct or spend some time here and move b) or briefly break and...