Nifty Expiry Day Range.
Bank nifty is trading with comforts to distribute sums . Now the much depends upon it to continue the trend or give whipsaws, as for the technicals market has kept bearish view even though a more U shaped recovery to say. However what we notice is that if the U shaped recovery was itself weak then BN would have weaker retracement .232 possibly. Thus a very...
Marked are the Expiry Day range for Bank nifty for tomorrow. The market should close tomorrow within the range with more bullish bias.
Range for today's expiry two ranges are possible depending in which zone market opens
OI shows Short Build Up on #banknifty and last one hours was long unwinding on the index. Tough resistance zone:- 22,372 - 22,550. 180 min trend indicator, showing weakness. Two harmonic patterns are detected:- 1. AB=CD, which gives a target of 22,294:- High was 22,324, DONE 2. CYPHER, which gives a target of 22,589 and Fibonacci target 22,372/22,550. I keep...
From my August 5 update, I expected NIFTY has strong resistance at 11228. Any bounce tomorrow upto 11228, excellent shorting opportunity with clear stop. News driven action likely tomorrow. I expect consolidation to bearish movement tomorrow. NIFTY was choppy, but not necessarily bearish. The short from 11228 was a good setup, but too fast to trade as it...
OI down by 1.39% and price up by 0.09%, shows FNO neutral setup and Doji formation on the daily chart shows indecision. Today fall from 11:15 to 12:15 is due to shorting & long unwinding, long unwinding is a thing of worry. Today is the second day in we made lower low (21,449) and higher high (21,933) 4th Aug LL:21,065 and HH:21,574 29th July to 3rd Aug:- LH:...
In my trade log of July 29, I commented The breakout has failed. I think NIFTY is likely to test other extremes -- retest of 11000 and 10900 initially. This may not happen tomorrow as tomorrow is an expiry day. There may be another attempt towards 11270 which needs to be watched carefully. Tomorrow I am more biased towards consolidation day. Review NIFTY is...
Its a happy short covering since last two days in the BN however a sense of confusion will evade only above the pink box (large). We will take Sell of Call options above this area aggresively and on Monday can witness retracement to test near term support level. Follow us on twitter and Tlgm
#banknifty #trading #stratergy Most important for bears, SL for shorts 21,935 (Well defined SL). Wave 4 completed at 21,935 ( 49.82% of Wave 3). Wave 5 has 3 targets 21,496 (complted)/ 21,225 (completed) / 21,057 Wave 5 is completed or yet to be completed is a question mark. Will focus on the trend line joining 22,995,22650,21935, pls keep a close watch the...
Nifty is expected to trade in Range with most of the indices stock at short term support level.
I'll review what I anticipated in my post yesterday 1. Today's price action can be a swing high formation. We need to wait till Friday EOD to confirm. 2. Overall now I assume the trend is consolidation with bearish bias. 10500-10600 is significant resistance, even if gets retested, it will be hard to break it quickly. 3. Tomorrow, being expiry, I dont have...
Nifty is following this channel (displayed in chart) in the medium term. Moreover, it formed Bearish Engulfing candle today. Tomorrow, it may open Gap down.
First, I'll start with reviewing my yesterdays post I had said 1. I''ll trade light tomorrow and see how we consolidate, what kind of range we form. 2. I'll wait till Friday, or may be Monday, to really changing strategy clearly on long side. But obviously now Bias is on long side as long as we are above 9000. As per plan, I traded light and also stopped...
In my yesterday's market review, I had said 1. Tomorrow is expiry day. I wont take tomorrows action, especially sharp move if any as indication of further trend. 2. Mostly indecisive day today, so we have to see in which direction the NIFTY moves further. I do not have any bias going in tomorrow. 3. But if I have to build some view, then I think it'll be...
#banknifty #niftybank #expiry Levels on CHART, we short below the yellow zone and long above yellow zone, zone low & high as SL.
7th May'2012 Bank Nifty Weekly Expiry Plan. @@ Pivot Zone:- 19,588 - 19,480 Above +ve Below -ve Levels on chart to book profit, fresh weakness only 19250. The market may be volatile, trade with SL, and book small profit.