viswaram

viswaram

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...

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Nifty Stance Bullish ⬆️ Nifty's dream run continues, unchecked and unchallenged. Every other day a heavyweight supports Nifty, one day it will be HDFC Bank, the other day it could be RELIANCE, and then on the 3rd day, it may be ICICI Bank. Somehow or the other the fire is still burning.. If you look at the 16mts chart, what we notice is an almost 45-degree strong...

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BankNifty Stance Bullish ⬆️ BankNifty took up this week, strong price momentum on almost all bank component stocks - even the elephant started dancing this week. We went all the way up to +1428pts ~ 2.76% before giving away 860+pts to close the week with gains of 1.1% ~ 565pts. Today's price action felt quite strange, it appeared like we were forming a peak....

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Nifty Stance Bullish ⬆️ The good news is that Nifty is up ~425pts or 1.8% between 21st Jun to 28th Jun, the bad news is that my weekly report will now be emailed after Friday's trading day. For this week's report, I have price action from last Thursday to this Friday, which means 1 week + 1 day, well that does not make a significant difference in the outcome...

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BankNifty Stance Bullish ⬆️ Unlike Nifty, banknifty had more stability today but yesterday's outlier performance had its implications today. The premiums of CALL options were too pricey, which then normalized as the day progressed. Do not really know how the banks have so much of a firepower to keep going up, we are at the top and the banks are hungry for...

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Nifty Stance Bullish ⬆️ We saw what happened yesterday, the kind of unusual price swings, the likes of a pump and dump scheme almost. We had a V pattern and an inverted V pattern yesterday itself and even the bravest of the algo traders would have failed to firefight it. I did lose pretty badly yesterday too, not unhappy with the losses per se - but quite unhappy...

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BankNifty Stance Bullish ⬆️ The stance of banknifty is still bullish, but the pattern is not like Nifty50. Banks are a bit weaker than Nifty. If you notice today, Nifty50 hits its intraday low around 11.20 whereas BN hit it around 15.00. Till 11.20 both N50 and BN were moving alike after which BN did not recover but kept melting down slowly. Still, we ended the...

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Nifty Stance Bullish ⬆️ Nifty continued to make new highs every other day this week, overall it has been a steady week with very few wild swings. Just compare the swing range of the previous week vs this, and you will understand what I am talking about. The new high is 23481 hit at the open today and then we fell almost 126pts ~ 0.54% , the beauty is that we did...

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Banks started the day superbly but was unable to hold on to the first candle gains. When Nifty made a new ATH today, BankNifty is still below the 3rd June peak. What was more interesting is how NiftyIT reacted today - the shares of Infy, TechM, TCS, Wipro were all getting trashed. Noticeably Banks did not follow that trend instead it held its ground quite well. A...