Nifty Analysis - Stance Neutral ➡️ Recap from yesterday: “Remember how things were looking weak on the 8th and 10th of Jan and how Nifty turned from there? For tomorrow, the bullish stance continues and the first support will be the ascending channel top-line ~ 22050 levels.” 4mts chart Nifty hit a new top of 22124 today and just when everything was going in...
BankNifty Analysis - Stance Bullish ⬆️ BankNifty also gets a stance upgrade from neutral to bullish today. After we crossed the 47539 resistance, its level as support never got tested. Today’s gap-up was not so visible for the banks - but the price action was more healthy. 4mts chart The stance change came only in the last 15 minutes or so when BankNifty...
Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “Till yesterday, we were looking for neutral trades with a possibility of going down. See how the tables have turned today. For Monday — we need to look out for bullish opportunities now.” 4mts chart Another gap-up of 131pts ~ 0.6% today! It was required to break the channel resistance line. There was...
BankNifty Analysis - Stance Neutral ➡️ BankNify opens above the resistance area of 47539 and then briefly falls below that till 09.59. When the entire IT sector was screaming GREEN, Banks were keeping lull. BN had its proper resistance break at 10.07. From there it made 2-legged rise to 47873 before giving away 270pts between 14.39 to 15.07. 4mts chart link We...
Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday “Nifty looks perfectly neutral from here, the moment the support of 21491 gives away — we can start looking for bearish opportunities. To go bullish the ATH has to be taken out. With the IT majors TCS and INFY declaring the results — we should have a strong swing direction tomorrow.” 4mts chart link Major...
BankNifty Today Analysis - Stance Bearish ⬇️ Look at what the Gap-up did today to BankNifty, it messed around with the resistance level of 47539. Was it a genuine break? Absolutely NO. Would that have shocked the Bears? Absolutely YES. Gaps are the easiest option available for the manipulators to scare off the retail crowd. 4mts chart link Again the 280+pts...
Nifty Weekly Analysis The close we had on 4th Jan was 21669.6, the close today is 21669.4. Nifty moved -0.2pts this expiry. Unbelievably flat! Would have been a dream come true for traders who took home short iron fly & short straddle last week. 16mts chart link Nifty Analysis - Stance Neutral ➡️ Recap from yesterday “The last candle which is strongly GREEN...
BankNifty Weekly Expiry Analysis Between the last expiry and today, BN fell 383pts and most importantly breached a support level (47539). Even though the start of the week was good, the bulls gave away the control to the bears by Friday. 16mts chart link BankNifty Today Analysis - Stance Bearish ⬇️ Unlike Nifty50, BankNifty did not have a strong pullback...
Nifty Analysis - Stance Neutral ➡️ Recap from yesterday “Interesting price action formed at the current levels. Seems like where we are right now is a crucial support/resistance zone that could decide the next trend. Our call of bearishness will continue until N50 can break through the channel top line.” 4mts chart link Even without breaking the upper trend...
BankNifty Analysis - Stance Bearish ⬇️ BankNifty was more sensible today. Firstly the gap-up was not so huge to scare away the bears - so they hung around. Secondly, there was no breakaway momentum, by 11.07 things were getting pretty clear that the upmove ran out of steam. 4mts chart link And when the selling came, it was ferocious. Bears also had to make...
Nifty Analysis - Stance Bearish ⬇️ Recap from yesterday: “The breach of the upper trend line of the ascending channel is quite visible in the higher time frame. Ideally, it is not a pure bearish signal as we are technically still in the bull market. We are changing the stance to bearish from neutral for the ultra-short-term only. If Nifty50 manages to crawl back...
BankNifty Analysis - Stance Bearish ⬇️ The chart of BankNifty was more dramatic and powerful. The total swing range was 765pts ~ 1.59%. The support of 47539 was broken only at 14.31 and there was not much time left for the next leg of fall today. 4mts chart link What BankNifty and Nifty have done in January was to take out the stop loss twice. Last week we saw...
Nifty Analysis - Stance Bearish ⬇️ Recap from yesterday: “Our stance is still neutral with equal possibilities in either direction. Since Nifty50 is following the ascending channel’s top trend line — the chances of going up look more probable. To go down — we need news flow/event as there is no technical weakness.” 4mts chart link The gap up open today and a...
1. January - The Value at Play Before we start discussing the different technical chart patterns, we need to have some clarity on how buying and selling happens on stocks and options. Every trade has a buyer or seller. That means at a specific point in time, for a specific price there are 2 conflicting thoughts Someone who thinks the price is too cheap ...
BankNifty Analysis - Stance Neutral ➡️ BankNifty opened inline and was looking quite decent till 10.07. The fall that came after that took out 559pts ~ 1.16%. Not quite sure what triggered that fall. Due to this, the impact was felt even on Nifty50. NiftyIT was roaring green at one end and then BankNifty underperforming at the other. 4mts chart link Remember,...
Nifty Analysis - Stance Neutral ➡️ Recap from yesterday: “The first thing we had to do was to change the stance from bearish to neutral. To go bullish we need some more momentum, if it comes up in the forenoon session — I will update you via TV minds.” 4mts chart link Two things happened today A gap-up open - which did not make any sense. The rejection...
BankNifty Analysis - Stance Neutral ➡️ The powerlifting was done by BankNifty today. The Bajaj Finserv and Finance were on fire today and were propelling FinNifty to a higher variance than BankNifty earlier in the day. However, the close ensured the variance was less than 0.2% 4mts chart link Honestly, we did not see this coming. The setup was perfect for a...
Nifty Weekly Analysis Between the last expiry and today, Nifty50 has fallen only 99pts ~ 0.46%. Credits to the recovery today that made up 141 of the lost points. N50 also has managed to bounce off the channel top line indicating further signs of strength. 63mts chart link Nifty Today Analysis - Stance Neutral ➡️ Recap from Yesterday: “On the higher time...