As discussed in last analysis Bank Nifty took support @ the rising trendline as shown in below chart and closed above the demand area 17652. Friday we can see a breakout/breakdown move so trade cautiously. Above 17850 Bank nifty can move towards 17950/ 18050/18144 and below 17650 back to 17434/17368 . Bank Nifty open with… Read More »
A day of celebrations of good over evil. We celebrate “Ram’s victory over Ravan”. And it happened thousands of years ago. And we continue to do celebrations and stopped at that. Only a handful have gone on to fight the good fight to overcome the evil within us. Others simply complain of the evil around… Read More »
Bank Nifty after forming multiple tops in range of 17940-17954 respecting our Weekly Chopad level of 17950 after giving breakout above 17850 failed to move above Friday high of 17947 and today closed below the breakout area of 17850 but bounced from trendline support. Bank Nifty took support @ the rising trendline as shown in… Read More »
Bank Nifty again today made high of 17940 forming multiple tops in range of 17940-17954 respecting our Weekly Chopad level of 17950 after giving breakout above 17850 failed to move above Friday high of 17947 made a high in opening at 17954 and came down, suggesting no follow up move was seen. Today move can… Read More »
Bank Nifty after giving breakout above 17850 failed to move above Friday high of 17947 made a high in opening at 17954 and came down, suggesting no follow up move was seen. Today move can be seen as consolidation after big rise seen on Friday, It will be termed as failed breakout once it closed… Read More »
Last week we gave the Chopad level of 17580 Bank Nifty gave short entry made low of 17434 which did not achieve the target of 17360 and gave long entry @17580 and did 2 target on upside made high of 17947 near 3 target of 18000 . Lets analyze how to trade market in coming… Read More »
FII’s sold 52.7 K contract of Index Future worth 831 cores ,27.5 K Long contract were liquidated by FII’s and 25.5 K short contracts were added by FII’s. Net Open Interest decreased by 2.2 K contract, so today’s rise in market was used by FII’s to exit long and enter fresh shorts in Index futures Motivational:… Read More »
As we have been discussing in past few analysis 17850 is breakout area for 18050/18144 and 17350 is breakdown area for 17177/17000, In between its pure consolidation mode. As seen in below 2 charts which shows Breakout given by Bank nifty now we need to observe price actio near 18050 and 18144 for further clues… Read More »
Bank Nifty Opened with gap up and tried to move above the resistance zone of 17750 where we have multiple top but again made a high of 17752 and fall back,As shown in gann box chart bank nifty was unable to move above 1×1 line and pyrapoint chart also unable to close above 180 degree… Read More »
Bank Nifty continued in consolidation mode forming lower low lower highs, As shown in below Pyrapoint chart on Hourly time frame Bank nifty is in perfect consolidation mode. Bank Nifty has becomes proxy for IT index to manage the index, As IT heavyweight TCS and INfy have been going down on account of poor quarterly… Read More »