viswaram

viswaram

FinNifty Weekly Analysis Between the last expiry and today, CNXFINANCE has fallen 219pts ~ 1.08%. The majority of the fall came on 02 and 03 Aug after which we have seen a recovery of 1.9% from the lows. FinNifty Today Analysis If you look at today’s 5mts chart, it was a steady upward moving market with a healthy pullback. Even when the index was falling from...

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Banknifty had a perfect flat range bound day today. Normally we dont see it that often, but banknifty seems like a tamed beast as of now. You might be bored to hear this from me again that from “January 2023, I think banknifty is less volatile than Nifty50”. A look at the options data is ample proof - the OTM option values today is more like we usually see on a...

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On Friday 4th Aug Nifty made a gap up opening and created an island day. We had changed the stance from bearish to neutral. And today nifty managed to build-up momentum on top of what happened on Friday, to me - that’s bullish. After opening gap, nifty managed to stay above the 19530 level quite strongly. At 09.30 nifty made the low of 19524 and then went back to...

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Banknifty on the other hand is still in the bearish zone and still continues to provide some hope for the handful of bears that are left. Even though we ended up with 0.82% gains compared to 0.7% of Nifty, banks are still not out of bear hold. The reason is the price action. We had an intraday rally of 601pts ~ 1.35% and then a fall of 525pts ~ 1.17%. Although I...

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For 2 consecutive days the bears had a good time and now it is over! Today’s price action and the inability of the sellers to push down the prices indicate the bulls are gaining traction. Most analysts would prefer to watch for 1 to 2 more days before changing the bearish bias - I would prefer to change my bias from bearish to neutral right away. In the recent...

viswaram Updated 

Nifty Weekly Analysis We lost 373pts ~ 1.89% between the last expiry day and today. Usually Nifty ends up compensating the loss by dip-buying. For the first time in many weeks - the dip buying is not that intense and that may open up more cuts in the coming weeks. Our stock market in specific has been in an unchecked rally from April 2023. The fact that US...

viswaram Updated 

From yesterday we were bearish, so the moves in the forenoon session gave us some validation. But it was nothing like Nifty, the cuts in banknifty were not aggressive even though we lost similar points. The options flow was not indicating that deep a fall till afternoon - the premiums on nifty was far superior than banknifty (which has been unusual lately)....

viswaram Updated 

Maybe it was the news that Fitch cut the US rating from AAA to AA+ that sparked the reversals in Asian markets. Our market too started to fall but had a decent recovery in the last 1 hr (just as usual). The global markets were staying at elevated levels for quite some time now. Our market is at the APEX with the outperformance unchecked. Even with such a strong...

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BankNifty Weekly Analysis Banknifty has fallen an impressive 3.18% compared to just 1.89% of Nifty. The major reason for that is Banknifty always acts as leading indicator in a trend change NiftyIT and Reliance were supporting Nifty in the last week. Once the US market started falling due to the Fitch rating downgrade, NiftyIT started correcting which ensured...

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After the latest circular from NSE, MidCPSelect Nifty which tracks a handpicked 25 stocks will have expiry date shifted from Wednesdays to Mondays. And BankNifty which tracks the top most banks in India will have expiries on Wednesdays instead of Thursdays. This change in status-quo has created a situation wherein we have a daily expiry. Much similar to the 0 DTE...

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This is a strategy you use when you feel the markets will not rise or fall below a predetermined level within the upcoming week. Approx 9 out of 10 times markets remain range bound and the other single time it breaks out or breaks down. This strategy is when you have a feeling that markets will remain range bound and will not break out or break down. We will be...

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Banknfty fell 309pts ~ 0.68% from the day’s high to the day’s low. The gap up open was a surprise but the fall wasn't. Unlike Nifty, banknify is out of bearish hold yet. However the inability to push down prices even after getting an initial momentum during the day may not go in favor of the bears. The top formed today (encircled in blue) may be considered as...

viswaram

I had a long bias on Nifty from yesterday, the gap up was expected but the fall from 10.10 to 10.45 looked quite surprising to me. NiftyIT was supporting, the earlier fall came mostly from the FinNifty components - its understandable as its expiry. The much awaited levels to watch out for were 19700 to 19680 where nifty had spent some time yesterday as well as...

viswaram

FinNifty Analysis From the last expiry and today, Finnifty has fallen 197pts ~ 0.96%. We did hit an ATH of 20666 on 27th Jul and the same day we fell quite deeply. Today’s close is almost matching the intraday low set on that day. Today’s Analysis There was some interesting price action till 12.50 today - the fall was quite decent to watch esp after a gap up...

viswaram Updated 

Banknifty did not disappoint the bears as much as Nifty did today. The day began with a gap down right at the swing low of yesterday and in no time we reached the 45380 levels. From there we had a gradual drop to the intraday low of 45238. There was a pullback of 272pts ~ 0.6% but bears managed to close the day with a total cut of 0.46% ~ 211pts below yesterday’s...

viswaram Updated 

The open was as expected and the first 2 candles made sense when we retouched yesterday’s swing low.But what followed after that was more of a discouragement for the bears. No matter how hard the bears try - they are unable to push down the prices. We had a gradual fall to the intraday low of 19563 which was hit by 13.45 - and this was the time by which the bulls...

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Banknifty Monthly Analysis Banknifty has moved up 1353pts ~ 3.05% this expiry month, approx 0.7% lesser than Nifty’s movement. One possible reason was the slight retracement between 07 to 14 July whereas Nifty had managed that week pretty well. BankNifty Weekly Analysis Banknifty scored over Nifty during the weekly price move wherein BN lost only 0.85% ~ 391pts...

viswaram

Nifty Monthly Analysis Nifty is up 707pts ~ 3.73% this July Expiry month. The breakout from the last known resistance of 18880 came on the last working day of the previous month. All Nifty had to do was sustain that momentum and see where it has taken it? Almost for 11 days Nifty revised its all time highs. The last 5 days has been pretty unlucky for the...