viswaram

viswaram

Bank nifty opened gap down at 40977 tried to close the gap till 9.35 but broke down, made an interim low at 10.00 and then tried to close the gap again till 12.35 but failed. The price action from 12.40 to 14.20 was the only realistic move made by bank nifty this week. Imagine when the global set up is very poor and our Nifty50 major index is showing lack of...

viswaram

Bank nifty opened 41533 gap up today, made an intraday high in the 3rd candle and then fell to the support line at 41312. Most importantly this support line proved to be quite a fight with swings up and down - and final close at 41208. The opening swing would have taken out most of them by surprise, few of the weak CE writers would have squared off thinking the...

viswaram

The handout from US markets were very weak, S&P500 falling 4.3% overnight. And as expected bank nifty was supposed to start gap down and further break down. Contrary to the expectations, this is what happened - BN opened gap down 565pts at 40308 and made a mega rally to close at all time highs. Within the first 30mts itself BN closed the gap took a minor pause...

viswaram

Bank nifty opened gap up at 40802 almost +228 points. The first candle was bearish red & i thought bank nifty will close the gap, but it didnt. Note that BN is trading near all time highs and there is no resistance level here. In spite of these, BN is not breaking down - so the bulls have to be appreciated for their conviction. There was a small price action made...

viswaram

Bank nifty as flat as it can be, opened gap up at 40540 and closed at 40561. If we ignore the 2nd & 3rd candle - the rest of the day was traded with stability & calm. For a moment i thought BN was planning to trend down when i saw the 2nd candle, but it was more of a gap closing trade symbolizing few traders taking profits or exiting an unplanned trade. Analyzing...