Earlier ICICI Bank broke consolidation levels with riding on high expectation. It is again entered in the same zone but wit different set of business conditions now. Now external factors will determine if ICICI bank can break these level. One news and all levels break on either side in war news driven market.
BN monthly expiry has seen volatile sessions recently. All gap downs are filled and supported with moderate buying support. Existing positions for monthly expiry is providing support. We may see positional rollovers for next month and smart money may provide support to market avoiding big fall contrary to what retailers are expecting.
Bank Nifty 15 minutes charts beautifully showing the market trend.
Gold has seen seen sudden spike in past. Currently we have seen some sharp move in currencies and these sharp move might move towards Gold.
Is BN reflection of current economic recovery? Since Pandemic start markets are moving in a way that cannot be directly linked to economy. Whatever is justification like price factored with bad news or good news or liquidity flow, BN has shown that it has gor upper cap and difficult to move on each and every news.
World markets touching all time high or close to it. Bank nifty is laggard in this upward movement. For some days there is divergence in Nifty and BN. ICICI was firing for some time now. All world markets at or near to highest point & ICICI at crucial point of break out or break down.
Deepak Nitrate seen good upmove followed by perfect accumulation phase. It is ready to shoot again upwards towards 2250 level.
Mgl is in consolidation phase. Expecting this phase to continue for short term. MGL will see a spike in price once work starts on natural gas availability in small cities.
SBI has broken long time high with bang. But upward momentum is not able to sustain. Does this shows level play based on Gov support for PSU banks and doubts on improvements in business and margins in long term compared to non psu peers.
Havells has given a complete breakout. After quarterly results the run seems to be slowed down. Is it going from Pump up price phase to dump price phase ?