viswaram

viswaram

Nifty Stance Bullish ️⬆️ Nifty moves an amazing 474pts ~ 1.91% during the week 9th to 13th September and upgrades its stance from neutral to bullish. Of these 438pts ~ 1.75% surge came on 12th Sep and between 13.30 to 14.51.  12th Sep was an expiry day and I had shorted 25250 at 3.50 and luckily squared off for Rs1.1 around 1.33 PM. This same strike went upto...

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BankNifty Stance Neutral ➡️ BankNifty has lost only 694pts ~ 1.35% over the last week and interestingly 896pts drop came on Friday, 6th Sep. Our stance has been neutral for quite some time now and prefer to stay neutral until 49728 is not getting taken out. The daily candle of BN is quite different than Nifty. BN did not even retrace the top that it made on 4th...

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Nifty Stance Neutral ➡️ Nifty has only fallen 379.95pts ~ 1.5% this week and it is pretty early to go bearish, but the structure gives a lot of hope for a bear attack. You all might agree that we are in an overvalued territory, even if we fall 20%, we might still be overvalued. If you look at the daily candle, a strong double top is forming. For conclusive...

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BankNifty Stance Neutral ➡️ Despite BN moving up 587pts ~ 1.17% this week, I am not intending to change the stance to bullish yet. The last time I checked, I preferred a close above 51400 to go long. We had a flattish Monday, followed by a highly volatile Tuesday. In fact, the moves on Tuesday would have hurt the algo traders pretty dearly, the reason I am sure is...

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Nifty Stance Bullish ⬆️ Last week I said, Nifty may not go above 24800 by the 22nd and we ended Thursday 11 points above the target. Over the week we went up 292pts ~ 1.19% and the ATH of 25078 is now looking pretty easy to conquer. For the current expiry, I expect Nifty to stay below 25150 ie by 29th August. This week's Monday and Tuesdays were with gap-up open...

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BankNifty Stance Neutral ➡️ BankNifty gets an upgrade, but not to bullish but to neutral from bearish. We have managed to go up by 27pts ~ 0.05% in the current week, but this after a dramatic fall and then a recovery. 82% of this recovery coming on Friday the 16th, i.e. 698pts out of 851. BankNifty went down to 49654 a level that we last saw on 6th Aug, and then...

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Last week we discussed how Nifty was still in the bearish stronghold and then a break above 24389 was mandatory for a change in stance. 09 Aug 2024 - Nifty down 334pts, makes a 61.8% This week, Nifty not only broke the 24389 ~ 61.8% retracement level but went ahead and broke the 24525 ~ 78.6% level too. This double break has prompted me to go bullish, but there...

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Nifty Stance Bearish ⬇️ Unlike Nifty, BankNifty made a new low on the 6th of August after falling almost 1620pts ~ 3.16% on the 5th. Even though we shifted the stance to bearish - the current fall has no real momentum for continued action. The OTM options did not inflate enough signalling that -3% of a day will be shortlived. The price action on the 6th did not...

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Nifty Stance Bearish ⬇️ Last week we shifted the stance to neutral, but monday's price action was more than enough to go bearish. Japan's markets fell almost 13% on the 5th of August due to news about carry trades. I have written an article on what is a carry trade and you can read it here: "What is the carry trade that everyone is talking about?" I just drew a...

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BankNifty Stance Neutral ➡️ Would you really believe me when I say the close of 23rd Jul and 2nd Aug Friday are the same? Unlike Nifty, BN did not hit a new high this week, the 11.21 candle of 29th Jul stands out real bad 1158pts ~ 2.21% in an hour. Was that an early warning shot? Quite unlikely as the follow through was just not there, it may go down as another...

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Nifty Stance Neutral ➡️ It is too early to go short, but the US markets have already reversed and the news coming in is pretty bleak. Reports suggest the legend WB has unloaded 50% shares of Apple & has a cash balance of $277 billion - source. We only fell 160pts ~ 0.64% this week and this is after hitting the prestigious milestone of 25000. The new ATH is...

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--- BankNifty Stance Neutral ➡️ BankNifty dropped 873pts ~ 1.67% this week, compare this with Nifty which went up 1.32%. This means we have a divergence and the main reason for that is the catch-up from other sectors like NiftyIT and Nifty FMCG. BN has the highest sectoral weight on Nifty, so you can imagine how much more the other sectors should have gone up to...

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Nifty Stance Bullish ⬆️ Nifty is up 324pts ~ 1.32% this week. Markets fell on the 19th and then the weakness continued till Thursday. What happened today, 26th surprised everyone as Nifty recovered 1.76% ~ 428pts to hit a new ATH of 24861. We had a poor budget, wherein the short term capital gains (STCG), long term capital gains (LTCG) and the Security Transaction...

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BankNifty Stance Neutral ➡️ Last week we published a report stating our neutral stance, and that held up quite well as we stayed range bound this week. Technically we lost 0.23% ~ 119pts to end the week at 52221. NiftyIT was the main reason N50 swung up and down this week, esp on the 18th. BankNifty was not spared either, we had 5 swings that particular day and...

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Nifty Stance Neutral ➡️ Nifty managed to only gain 14pts ~ 0.06% this week, but we hit a new ATH on all 4 working days. The new ATH is 24854, but before we talk about that - the price action of 18th Jul requires special mention. We fell 84pts ~ 0.34% between open & 09.35, then we went up 162pts ~ 0.66% by 10.11. We then fell again 173pts ~ 0.7% by 11.31 and then...

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BankNifty Stance Neutral ➡️ Banks had a losing week this time, we fell -282pts ~ 0.54%. The fall was quite intense on the 11th of Jul when we hit a swing low of 51749, the beauty of that day's price action is that we managed to close in green even after that selling rout. This news broke out on 10th July - "RBI Raises Alarm Over Misuse Of Internal Accounts In...

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Nifty Stance Bullish ⬆️ The stance on Nifty has remained bullish for many consecutive weeks, and it seems like there is nothing that can deter this powerful train. On a weekly basis we gained 190pts, we saw a minor weakness on 10th July but by the 3rd hour that day, we resumed the buying momentum. The new ATH is now 24592, just shy of 24600 and this surge came...

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BankNifty Stance Bullish ⬆️ When the elephant dances, the ground will shake, and that is what happened when HDFC Bank moved like crazy on the 3rd and 5th of July. Despite the mega gap up or gap down moves, the index did not breakout or breakdown post that and that was very beneficial for the non-directional strategies like short straddles. The evening star pattern...