sreebhashyam

sreebhashyam

Nifty bank, bulls held hostage at Gun point by the bears. The break if it happens breaking the 200 DMA would be severe here and hence the strong statement of the day. Failure to hold the gains and subsequent move down suggest we are all set to break 36400 and head towards the 35000 area. That is a lot considering the fall has been steep. Will it be different, does...

sreebhashyam

Nifty bulls failed on a day when green shoots during Europe session. The close on the negative baffled many but not the bears. Will it be a day when we finally cave in to the mighty 200 DMA and head towards 16400 selling the debate on near term cap 17000 instead of floor. All signs are towards that. The excessive valuation of equity as an asset class is in for a...

sreebhashyam

Nifty moves perfectly catch the range expected. Slow and steady erosion in the support is what is seen. Bull need close above 37800 and bears need close below 36800 for further erosion. Continue to watch this range for further clues though optically bears hold the edge. Watch the 200 DMA action in Nifty. Any break it would be driven by other Indexes as well. For...

sreebhashyam

Nifty, "only this much" was the comment from one of the members when Boris Johnson presented the sanctions list. That shook the market notably the Russian Stock to rally, filtering the impact across the financial markets. We are no different. Third time 200 DMA held. Doest that mean bulls safe or bears failure? Well bulls still not safe while any break would be...

sreebhashyam

Nifty bank closed solitary green after bouncing of from the day's low. Unfortunately for reasons not of their own they will have to face war chest drums on their move. One more attack towards 36800 is what can be seen and any close below would send bulls run for their cover. Capped near term below the 38200 daily close basis. The threat is 200 DMA on NIFTY AND...

sreebhashyam

Nifty bulls manage intra-day 17100 area and try bounce above 17300 failed. Close was lacklustre. The cues continue to be bearish to aggressively bearish. Many parts of Index are near 200 DMA and some have broken them. Internationally US, DAX, NIKKI below 200 DMA. It is now turn to UK and India. 200 DMA is under threat. The bleeding yesterday in BSE500 stocks more...

sreebhashyam

Nifty bank bulls continue to erode the support. Close below 37800 is clear sign, market looking towards next crucial support around 36800. This is possible as long as we hold the 38200 on close basis. What has been a strong place, turns weaker. Along with Index bank nifty move has remained correlation of 1. This suggests there wont be a stand alone moves here and...

sreebhashyam

Nifty bulls once again loose the plot and closed in red. The cues are negative but volatile on the back drop of war drums some times creating dramas on the market price action. The Index 200 DMA is no longer 16800 and it is moved upto 16850. A break of 17180 opens up case towards that price. Bears hold the edge below 17350 while bulls loose their hope on hourly...

sreebhashyam

FTSE still above 200 DMA relative to NIKKI, DAX, DOW. That warns if it is leader, or lagard in waiting. We had HnS break out yesterday, how ever, this morning rise is an opportunity to short if not already one in hand. The supply zone from the previous base and the downward slope from the recent high both vertex around the 7630-40 close area or one can assume 7610...

sreebhashyam

Nifty bank remained on the softer tone. However 37200 remains tactical support back to the larger range of 37000-38000 within this the bias near 37000 is tad for the bulls. Surprise break and close below 37000 warrants caution to the bulls.

sreebhashyam

Nifty late night cues overseas of very negative while post Japan Data markets looks green else where. What will we pick up. Will we ignore yesterday loss and focus only today gains. Support 17230 is crucial if we break then there is potential HnS pattern taking it to 17100. Strong supply 17400 holding the gains. Larger range 17100-17500 in play. Direct Break...

sreebhashyam

Niftybank, as expected held the strong supply zone 38400 only to retreat towards 37800 the support zone. Continue to view this range vital on close basis for next directional call. With very little to infer from overseas clues local dynamics continue to play. Being expiry day the hurdle would be the positioning there. By some standards the moves on expiry day...

sreebhashyam

Nifty bulls attempt above 17400 plus and multiple times failure, thus bears appear to have drawn their defense. Bears tried their might failed on close to trigger below 17250 that appears to be a defense line for the bulls. With this the near term range (on Close basis remain 17250-450) only break to give direction. Any close either of this to produce another 150...

sreebhashyam

Nifty Bank, bulls sharp reversal coming from the strategic low suggests that the down move was excessive. One has to ignore both days moves and see what is next. Clearly viewed from this 38500 remains supply zone while 37800 support zone. That would be ideally the range for the day.

sreebhashyam

Nifty bounce from 200 DMA stunning. In the last 18 trading session, 13 of them with gap openings up or down. The sharp rise though briefly moved lower to the yesterday close, subsequent action sharp. While bulls had heart beat on Monday, bears mercury raised on Tuesday. With Ukraine related news taking back seat, it is back to the basics. Today FOMC Minutes can be...

sreebhashyam

Nifty bank - bulls get the maximum pain in min space. The fall is sharper and takes away the recent stronger bias off the table. Close below 37200 inflicts the wounds larger. Any rise now would be opportunity for the bulls to trim, while bargain hunting can be expected around the 36400 area. That clearly sets the new range 36400-37400. Nifty bank has peculiar...

sreebhashyam

Nifty - the fall sharper, deeper, wider and close near the end. 16800 is too important a level for the bulls on close basis. Will the market respect that and show some relief? The broader markets across have wilted and unless they rise in synchronization, doubt on stand alone basis the rise can sustain. Thus the clues from else where remains important. On stand...

sreebhashyam

Nifty bank, dictated by another Central Bank rather than RBI, It continues to show the power of the Dollar and the cost of it in driving various asset classes. Our MPC is quickly forgotten and focus remains on actions today. While 38900 holds one more time move towards 37700 is seen. The crux is whether we hold 37700 if the assumption of deeper NIFTY Correction...