viswaram

viswaram

Nifty Analysis Recap from yesterday: ”At present, I wish to change my stance to neutral and wait for further clues. If we start dropping on Monday, I would prefer to go bearish with the first target of 19562 and then 19446.” 5mts chart link - click here Nifty did not have that much of a flavor today. We opened inline and then started drifting downwards....

viswaram

BankNifty Analysis We will discuss the Capital Adequacy Ratio news in detail today as I was unable to find time yesterday due to an unscheduled hospital emergency. In yesterday’s postmortem, I mentioned that I would be changing the stance to bearish if the support of 44063 does not hold. Hope you would have got my tradingview minds update. 5mts TF chart link - ...

viswaram

Nifty Analysis Recap from yesterday: “On the 1hr chart, we closed slightly below 19776, the 14.15 hourly candle is well-lit like a beacon. I am still continuing my bullish stance in the hopes that 19776 will get taken out during the forenoon session tomorrow. If not, I will be changing my stance to neutral” chart link: click here Nifty opened gap down and then...

viswaram

BankNifty Analysis Banknifty did not have the fuel to rally today, unlike Nifty50. The major reason was because NiftyIT was doing all the powerlifting today (closed 2.69% higher). Between 11.00 to 11.15, I almost thought BankNifty may participate in the rally and take out the swing high of yesterday. We had the first cooling off between 11.15 to 12.30 -...

viswaram

Nifty Weekly Expiry Analysis Between the last expiry and today, Nifty50 has gained 359pts ~ 1.85% and broken 2 important resistance levels. We almost took out the 19776 resistance today but for a strong red candle @ 14.15. Nifty Today Analysis Recap from yesterday: “On the 1hr chart, the next target to break will be 19776 which is just 100pts away. Something...

viswaram

BankNifty Weekly Expiry Analysis Between the last expiry and today, BankNifty has gone up by 421pts ~ 0.96%. Bulk of those gains came in from the gap-up today. The real good outcome in this week was to break out from the 44063 resistance level which was proving to be quite a nuisance for BN. BankNifty Today Analysis Dont get confused with the chart below, I...

viswaram

Nifty Analysis Recap from yesterday: “Since its a holiday tomorrow, the view for Wednesday could be a bit complicated. Ideally, I wish to maintain the neutral stance as nothing has changed but how SPX behaves today and tomorrow also has to be considered.” It indeed became pretty complicated today, we directly jumped from below the resistance point to well over...

viswaram

BankNifty Analysis Banknifty also erased the gains it made on Diwali Mahurat trading. Today’s close is almost at the same level as of 10th Nov. Interestingly BN tested the resistance of 44063 on Sunday from where it was rejected. Sunday’s trade could be thought of as manipulated (legally) as most of them come with a bullish bias for Muhurat trades. Few of them...

viswaram

Nifty Analysis Recap from yesterday: ”For monday, I wish to continue with the neutral stance — but a slight bias to the bullish side after seeing today’s momentum. The first level to watch will be 19562 on the upside and 19310 downside.” On the 5mts TF, I have encircled 3 regions. The close on Friday. The Diwali Muhurat trading on Sunday. The close of...

viswaram

BankNifty Analysis The real reason why Nifty50 reversed course today - BANKNIFTY. Yesterday we discussed how it took out the swing high set on wednesday. You wont believe that we took out yesterday’s swing high today even after opening with deep cuts. In the opening minutes, we dropped to 43504 well below the first support of 43566. I really thought the support...

viswaram

Nifty Analysis Recap from yesterday: “For tomorrow, I wish to maintain my neutral stance but wish to go short if 19310 gets broken. Somehow I feel the chances of a fall have a higher probability than a rise. If we are breaking 19446 tomorrow, then I would like to wait till 19562 gets broken to change my stance to bullish.” If you watched the opening 45 minutes...

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BankNifty Analysis BankNifty traded totally differently from Nifty50 today. Nifty opened higher and was trading lower, whereas BankNifty took support in the first candle (43566) and was trading higher. We even took out the last swing high to hit an intraday high of 43876 by 11.55. The afternoon session perfectly matched Nifty’s price action. A gradual but...

viswaram

Nifty Weekly Analysis Between the last expiry and today, Nifty has risen 260pts ~ 1.36% and has crossed 2 important resistance levels. The bullish momentum has stalled a little bit from 6th of Nov. If further trades happen toward the downside, then the current level will act as a lower high. Nifty Today Analysis Recap from yesterday: “In line with yesterday’s...

viswaram

BankNifty Weekly Expiry Analysis Between the last expiry and today, BankNifty gained an impressive 909pts ~ 2.13%. It broke through 3 resistance lines to give some hope to the bulls. If we talk about the expiry day today, the OTM premiums were horrible today. Due to the collapse of implied volatility - the market participants were not anticipating any movements....

viswaram

Nifty Analysis Recap from yesterday: “For tomorrow, I wish to change my stance to neutral if 19446 is not getting broken in the opening 2 hours. I would love to go bearish if 19310 support is broken” The encircled areas on the chart represent the period when 19446 resistance was in play. The open was right at that zone, then we spent 09.55 to 10.25 around those...

viswaram

BankNifty Analysis The price action on BankNifty was more than exciting. The opening minutes would have given the impression of going bearish and it would have played out well till 11.50 wherein we fell 322pts ~ 0.74%. The 11.40 candle just went through the 43404 support as simple as that, reinforcing the bearish intent. What happened next would have surprised...

viswaram

Nifty Analysis Recap from yesterday: “For tomorrow, I wish to maintain the bullish stance with the first target of 19446 and then 19576. If we are going down, the first level to watch will be 19310.” 19446 level never came into the picture today, but 19310 looked quite vulnerable for a breach today. The open was in line and then we had a strong RED candle. From...

viswaram

BankNifty Analysis The only inspiration BankNifty required today was to open above the resistance zone of 43404. Gap-up open solved that problem. Since that level became the new support, we had a retest at 11.05 - but it was rejected. The beauty of the trade today was that BankNifty retested the 1st candle high at 15.10 only. And even the final closing was near...