viswaram

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BankNifty Analysis The opening candle was very similar to the Nifty’s. The low set in the opening minutes ended up as the low of the day. In a way, it shows the bulls are still in control. The pattern was quite similar to yesterday. Weak open and then range-bound trade. 4mts chart link - click here Banks will be on their toes tomorrow huffing and puffing to...

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Nifty Today’s Analysis Recap from yesterday: “As an analyst, it is very difficult to predict when the trend will end, but we need to keep looking. For tomorrow, I prefer to continue with the long bias unless we give up the 20853 in the morning session.” 4mts chart link - click here The opening candle was explosive, in line opening with a strong fall. See the...

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BankNifty Today Analysis BankNifty also had a gap up open, but the first-hour price action did not seem normal. Not just because we went underwater and traded negative for the rest of the day, but the lack of will by the banks to move up. We all know the RBI MPC started the meeting today and we will have the summary on Friday @ 10.00 AM. 5mts chart link - click...

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Nifty Analysis Recap from yesterday: “For tomorrow, I prefer to hold on to my long stance with 20690 as a reversal level. If the uptrend is intact — we hope to see the laggards also catch up with the winners shortly.” 5mts chart link - click here. It might look like we had a lot of action today seeing the final gains at 82pts ~ 0.4%. The truth is - these gains...

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BankNifty Analysis Just like we discussed yesterday, BankNifty outshined Nifty today. But surprisingly FinNifty did not correlate with Banknifty. That is unusual as the major components are the same. A detailed look into these stocks BAJFINANCE, BAJAJFINSV will give you the reason. 5mts chart link - click here HDFCBANK had a higher pre-open indicative price,...

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Nifty Analysis Recap from yesterday: “Nifty has made an island today and is in uncharted territory. If the momentum persists, we can see unusual outperformances. If there is negative news or weakening global macros — we can see a fall too. Since we have broken out from an ATH, the chances of momentum continuation are higher. I would continue to hold on to my long...

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BankNifty Analysis The real reason for the outperformance on Nifty50 = BankNifty today. In the last newsletter, we discussed how relevant BankNifty’s next move would turn out to be. Would you believe we took out the ATH today and the new value is 46484.45? 5mts chart link - click here BankNifty went on to take out the 45399 resistance in the gap-up open...

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Nifty Analysis Recap from yesterday: “I would like to see this as a breakout with a new higher high in the cards. For this to happen, BankNifty has to reclaim its ATH” 5mts chart link - click here For those long on Friday, it would have been a dream come true. 347pts gap-up open followed by a steady and healthy rally. We ended up gaining 418pts ~ 2.07% today....

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If you are a stock or options trader, you might not have taken the trade without analyzing the charts. Gone are those days when traders punch orders just by looking at the prices. All professional traders prefer to take the shot after viewing the chart and that too after analyzing multiple timeframes. There is one player who has made a heck of a difference in...

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BankNifty Analysis Nifty had the gap-up today, whereas BankNifty opened inline but just above the resistance level. 44542 quickly became support and was bid goodbye with the consecutive green candles till 09.50. After that the momentum on BankNifty stalled and we had a flat trade for the remainder of the day. 5mts chart link - click here BankNifty gained...

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Nifty Analysis Recap from yesterday: “On the 1hr TF, 20015 was today’s stop and reversal level. The hourly candle seemed pretty strong, but some credibility has to be given to this new support level. I wish to continue with my bullish stance, the upper target will be the ATH and the lower target will be the new support of 20015.” 5mts chart link - click here It...

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BankNifty Today Analysis From yesterday’s analysis, I was long into BankNifty and was quite surprised to see the breach of support level 44542 by 09.45. The candle that crossed this SR line took out 154pts, luckily no damage was done and we found a safety net at 44280 levels. 5mts chart link - click here I have not fully subscribed to the idea that the opening...

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Nifty Today Analysis Recap from yesterday: “I still continue to hold on to my long position just that I added some protection with 20000 PE buy in the last minutes of trade today. Not because I wish to change the status to neutral, but to offset the OTM PEs shorted today. Most of them were full of air today as the movement would have spiked up its implied...

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BankNifty Analysis Recap from yesterday: “BankNifty has picked up decent momentum from 22nd Nov when it bounced from the 43253 support level. The next level to watch is 44063 and till that is not taken out, I wish to maintain my neutral stance. Once BankNifty also goes bullish, it will be a treat to watch as Nifty is already long.” 5mts chart link - click here...

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Nifty Analysis Recap from yesterday:”On the daily time frame you can notice how the recent run-up from 19310 has played out. The next targets on the upside are quite tricky as Nifty has not spent a decent time above these levels, 20010 and 20107 are some faint resistances” 5mts chart link - click here Nifty got the right support from BankNifty today and see...

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BankNifty Analysis BankNifty was following the last day’s price momentum, but it did not have an acceleration similar to Nifty today. Well the main reason why Nifty got that push was due to the 10% upper circuit hit on ADANIENT. Even ADANIPORTS also closed quite well today. Both of them combined added 39+ pts to Nifty’s gains today ~ 0.19%. You deduct that, you...

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Nifty Analysis Recap from yesterday: “On the 1hr TF, I would still like to continue with my neutral stance. Only if 19875 gets taken out, we can hope for some followthrough on the upside.” 5mts chart link - click here So finally we had a breakthrough of the 19875 levels. Notice my stance for the last 6 sessions was neutral and I had to change to bullish today....

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BankNifty Analysis BankNifty had a positive-looking chart today, it was kind of obvious from the optimism it showed in the last 2 days. The first thing it did today morning was to take support from the 43566 area i.e. between 09.45 to 10.05 5mts chart link - click here At 10.40 it had a strong green candle and it looked like it was going for the next...