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Nifty Stance Bearish ️⬇️ What a dramatic week it has been, Nifty falls 1130pts ~ 4.32% after SEBI's new FnO rule changes go live. What spooked the markets? I guess the fear that liquidity may get sucked out post 20th November 2024. Or is it because China's stock market is going limit up? The fall in our market was kind of different, usually the bear power lasts...

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BankNifty Stance Neutral ➡️ Looks can be deceiving, BankNifty ended the week negative, losing 104pts ~ -0.19%. The reason I chose the title "Who is contributing to the gains" is really valid here. NiftyIT only went up 48pts ~ 0.11%. So who really helped Nifty go up 1.38%? The truth is, there was a strong sector rotation, and the laggards caught up this week. The...

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Nifty Stance Bullish ️⬆️ The dream run continues, Nifty goes up 356pts ~ 1.38% this week. Seems like there is nothing that can stop this bull run. I guess, the bull market will only end until the last of the bears turn bullish. Even though we closed slightly red on Friday, the call options premiums were pricing further upside, and the put options decayed so badly...

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BankNifty Stance Bullish ️⬆️ The run on BankNifty was much better and more fierce than N50, we went up an amazing 2049pts ~ 3.95% last week. Unlike Nifty, which started showing its bullish breakouts on Thursday, BankNifty started on Wednesday itself. Over the last 2 weeks, BN is up 3324pts - it has been nothing short of a dream for the bulls. Meanwhile, what is...

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Nifty Stance Bullish ️⬆️ Back-to-back 1.9% weekly moves, Nifty moves an astonishing 953 points over the last 2 weeks. There is nothing that could possibly stop this train. What is more interesting is that 100% of this move came on Thursday + Friday, till then Nifty was flat and would have given the impression that the week may be going sideways. The good thing is...

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BankNifty Stance Bullish ️⬆️ Everything was looking very bearish last week, but the price action on the 9th came as a surprise. By the 10th of September, the bears had given up its hold and the next target was to take out the 51400 so that the bulls could show their dominance. The breakout from the 51400 level happened on the 12th wherein BN rallied an impressive...

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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...