Nifty Analysis Recap from yesterday: “For tomorrow, I wish to maintain the bearish stance with the first target at 19672 and the second but strong target at 19589. Ideally the bears should be able to close the day below 19589 tomorrow and take out the 19310 early next week. One thing to remember is Nifty50 is still not bearish on the daily time frame whereas SPX...
BankNifty Analysis One thing that really gave me confidence in the bearish move was the build up of momentum in banknifty. I did not get this feedback from Nifty, but Banknifty’s pulse gave me hope that further down moves are highly possible. Since I rely on options flow also to gauge the sentiment - the intensity of CE shorts were too good today especially in...
Nifty Weekly Analysis Nifty has fallen 354pts ~ 1.76% between the last expiry and today. Interestingly the price action on 15th and 18th stands out as an isolated island. Almost 90% of the fall came in the last 2 days which has even changed the sentiment. Nifty Today’s Analysis Recap from yesterday: “For further down move we need that gap to be taken out on...
BankNifty Weekly Analysis Between the last expiry and today, banknifty has fallen only 0.98% ~ 451pts. Today’s fall was much higher than that ~ 595pts. Most importantly we had a top like formation that got completed this week. And since Banks turn first - we can always consider it as a leading indicator during trend reversals. BankNifty Today Analysis The...
Nifty Analysis Recap from yesterday: “On the 1hr TF, I will be quite happy if this turns out to be the new top formation. Since the 20100 level was not taken out today, I was not able to take new short positions. We have a holiday tomorrow, but when we resume on Wednesday — I would really prefer if 20070 is taken out, till then I would prefer to stay neutral.”...
FinNifty Weekly Analysis We had the expiry today instead of Tuesday because of a scheduled holiday in exchanges on 19th Sep 2023. So in the current expiry week, FinNifty got only 4 trading days. Between the last expiry day and today, FinNifty has gone up 120pts ~ 0.6%. And in this period we looked strong, but not strong enough to take out the all time highs....
BankNifty Analysis Banknifty showed more negative sentiment than Nifty. In Fact it is hard to digest that Nifty was staying strong when BankNifty, NiftyIT and Reliance were down. Quite a rare day. Recap from Friday: “For monday I wish to maintain the bullish stance and would like to reverse and go short only if the 45910 levels are getting taken out.” . Not...
Nifty Analysis Recap from yesterday: “For Monday I wish to maintain the same 50% neutral 50% bullish stance. And wish to go short if 20100 level is getting taken out.” . Nifty was not neutral today, had a negative bias, but did not fall below 20100 to go short. On Friday SPX closed -1.22% down sending a strong negative message, but it seems like our markets...
BankNifty Analysis Banknifty also had a similar chart pattern like Nifty50. The good thing is that it has caught up near the all time highs. We just have 98pts to be taken out for a new lifetime high. Today’s price action and the far OTM premiums were totally out of sync. The volatility was falling still there were adequate price swings - which is not the case...
Nifty Analysis Recap from yesterday: I wish to stay with the moderately bullish stance for tomorrow as well. Since I am holding a long position my personal preference would be to close above 20167. We had a good positive day today, the start itself was right at the swing high of yesterday and we built up the momentum from there. The euphoria, FOMO continues...
BankNifty Analysis Banknifty had a decent range bound day today, but the options premium had some unusual jumps. I wasn't prepared to take advantage of those - especially during the open period as I was scanning for Nifty strikes to sell. After a few minutes I still saw the exorbitantly high OTM premiums both for PE and CE - but still couldn't capitalise as my...
Nifty Weekly Analysis Between the last expiry and today Nifty is up an impressive 378pts ~ 1.92%. We really did pick up some directional momentum this week. Almost all the sectors were assisting Nifty hit an all time high in this historic week and conquer 20000. Nifty Daily Analysis Recap from yesterday: “I expect the expiry to be above 19989 if we still...
BankNifty Weekly Analysis Between the last expiry and today BankNifty has gone up an impressive 3.2% ~ 1422pts. Quite a remarkable feat and the major reason why we had a breakout rally. The weekly chart looks pretty loaded up for further gains. BankNifty Today’s Analysis Yesterday I remember saying the “rally is still not dead in banknifty” although my view...
Nifty Analysis Recap from yesterday: “I wish to just wait and watch for tomorrow and not get into an aggressive long position until Nifty50 has consolidated at the current levels. I wish to modify my stance to neutral from bullish. If we break the 19870 levels tomorrow — I wish to go short (bearish).” . I did not get into any new long position in Nifty, in fact...
Between the last expiry and today, FinNifty has gone up an impressive 2.64% ~ 521pts. The financial services companies really took the lead this time to get Nifty out from the bearish zone. Today might be the only day in this year wherein I did not actively trade FinNifty for expiry. The options premiums were juicy enough, but I was more attracted to the Nifty50...
BankNifty Analysis Yesterday I had a long call on BankNifty - just because there was some room to catch up. In fact the banks did really well today not to concede the gains. Opening was a gapup like Nifty and we fell 424pts ~ 0.93% by 09.55. From there we had a minor reversal and went uptil 45620 (yesterday’s close levels) and then started falling from...
Nifty Analysis Recap from yesterday: “For tomorrow I wish to continue with the bullish stance, although I would like to take some safety net via long PUTS as we have the CPI (Inflation) data coming up this week.” The opening 45mts saw huge profit taking, few of the candles were deep red sending out a message that it may not just be a profit taking. I usually do...
BankNifty Analysis Banknifty had a long call for today even though the I-CRR news would have impacted it more than Nifty50. One of the reasons is the distance left to ATH vs Nifty50. BankNifty had more distance to cover the ATH and for this reason I had the continuation of bullish stance from Friday. The strength in BankNifty was obvious when NiftyIT started...