Nifty is more neutral to Bullish BankNIFTY is neutral for now. Not Bearish till S1 breaks. Expect market to hug CPR and range between R1 and S1 for most of the days this expiry.
Markets are trying to consolidate and rally to higher highs on the daily chart - but running into resistance at this moment on the intraday levels. Possible upside and downside intraday targets are discussed.
Buyers took control in the afternoon but did not close out strong.
Long term markets are still long, but price action and VWAP analysis is showing weakness today and yesterday which may roll over into a further correction down in price. The VIX is a little less bearish about market direction on an intraday basis. My bias is down or sideways. There is an increasing amount of resistance to the upside and not a lot of base building...
SPY sellers have been in control since March 29, and today finally hammered the SPY down below a significant support daily chart support level - finding support at the AVWAP drawn off of the March 15th Fed rate hike. I believe the support level that was gapped below today will be tested as resistance in the near future. If it fails off of that support level, I'd...
Spy, IWN, PFF, DBA, IWM, just to name a few ETF's with Anchored VWAPs.