Nifty | BankNifty | FinNifty context with levels on chart.

Recap - Today Nifty was relatively stronger than BankNifty and gave almost clear upside move. BankNifty was trying to go down in first half and was giving erratic moves. But ultimately it started trading on upside. In Nifty both our targets (17860,17910) were hit today. Also in BankNifty I just gave one target of 43000 yesterdays and eventually it came in second half which was sufficient for today.   Market Context for tomorrow -    Now Monthly expiry is done. Expecting some cool down in the market. We can see some sideways action now and that will be healthy for the market. We can plan for some positionally long trades. My view for tomorrow is sideways.    Nifty50 – Nifty has almost given back to back trending days (slow in moves but one sided). Expecting some consolidation now. Flat opening near PDH will be best to trade in long side. Keep target as 17950, 18010. 18000 can act as a psychological resistance and we may witness some profit booking in this area.   F

  Recap - Today market gave a surprise move by closing on day highs. We were expecting some bearishness or consolidation at lower levels but that didn’t happen. In first 30 minutes’ market gave some signs of going down but after that it took a reversal. Both Nifty and BankNifty came up to the first target which I mentioned in last blog. From there it took support and went up.   Market Context for tomorrow -   Tomorrow is weekly as well as monthly expiry so be cautious with non  directional  trades (spreads basically). Market can go one side anytime especially in second half as big players will try to close their positions. This can give a momentum. We should stay with the trend of Bullish and expecting same to continue tomorrow as well.   Nifty50 –  Again Nifty has closed above 17800. If one side rally has to come tomorrow, then 18000 is possible tomorrow. Still stay light on quantity and book profit in every 50 points on upside at 17860, 17910. This is valid if ma

  Market Context -   Today was a very sluggish day with no major action and not good for trading. Both the indices faced a resistance at their major levels and tried to break and sustain it but failed. Positionally stay with the bullish trend but don’t go long blindly as market is showing some consolidation and can give a pullback now.   Nifty50 –  Nifty gave a trade after it came around 17720 and the first target of 17767 was achieved. Unable to sustain above 17800 as of now. And from candlestick pattern we can see that it can go downside at least tomorrow. A gap up can give us a short trade with targets of 17750 and 17700. 17650-17660 is a zone where if market opens we have to wait for Nifty to form a price action and trade accordingly. Chart for reference-        BankNifty -     Today BankNifty was more bearish and expecting same to continue for tomorrow as well. We can plan for a short trade below PDL with targets of 42500, 42400. Any big gap up, don’t

  Market Context -   So week started with a sideways in first half to a good rally in second half. The same should continue for whole week. Yes, there will be some consolidation phase but that is a sign of a healthy market which we want for an upside rally. For tomorrow also I am bullish and expecting all the major stocks to do well given that results are good. PCR of both Nifty and BankNifty is also above 1 which I mentioned yesterday that it won’t take long to turn the data bullish. Stay with the trend and plan for a upside trade only which will give good rewards. Nifty50 –  Nifty almost reached our target of 17767 which was given yesterday. For tomorrow, again if Nifty opens around 17700-17720, we can go long after a bullish price action is formed on chart. Targets will be 17767, 17800. Any big gap up above 17800, don’t chase it as this zone will act as a good resistance zone. Let market settle down in first one hour. We will plan for short trade only below PDL now. No

  Market Context -     So we have seen a decent consolidation previous week with a good down move especially in BankNifty which we were waiting for. Now what’s next? As this is last week of April, I am expecting both the indices and overall market to remain bullish. Major companies/stocks have given good result in past week expecting some long moves now. Although PCR (Put/call ratio) is slightly bearish but it is not a major concern as it can turn bullish any time after the positive sentiment in the market. My view for this week is Bullish to sideways. Nifty50 –  Flat to bullish opening can give us a long opportunity for targets up to 17767. Any big gap up of 100-150 points, don’t chase it. Let market come at our levels of 17600-17620 then we can plan for a long trade. IF Nifty opens gap down, we will only take a short trade after it breaks it PWH in thirty minutes or one-hour candle.   Chart for reference-        BankNifty -   If BankNifty opens flat to bul

  Market Context -   Today was a typical expiry day with very less movement. Clearly our view of sell on rise has worked and all major action was in first one hour. Same sell on rise we can carry for tomorrow as well if market opens gap up. We can clearly see that market is trading in a very narrow range day by day. Expecting a one sided move soon. Although I mentioned yesterday as well that we can see a trending day below previous day lows but that didn’t happen. Ideally now market has made a good setup for a blasting move. Hopefully we can see it tomorrow. I will be more interested towards downside action.   Nifty50 –  I will keep it very simple. PDH and PDL are the main resistance and support line respectively. Beyond those a one side move can come now. If we are opening in between near 17660, then wait for some bearish price action to get formed before taking a short trade with targets 17620, 17580. Chart for reference-        BankNifty -   Same goes for B

  Market Context -   Sideways to bearish. This whole week same thing has happened- Gap up or any bounce is getting sold off very quickly. Expecting same tomorrow as well except in the case if market opens a gap down where we can see a one side rally downside.   Nifty50 –  Levels are working beautifully and it will be intact for tomorrow as well. If Nifty opens gap up near 17650, we can plan for a short trade with targets up to  PDL. Flat to gap down will again give a good chance for Bears to take a full control and market can go one sided in downwards direction. Targets will be 17500, 17450. Upside I am not much interested as Nifty hardly goes 30 points up and then sell off starts. Chart for reference-        BankNifty -   BankNifty is still strong compared to Nifty. Levels will be same. Plan is to find and take a short trade. Any gap up near 42250, we can plan to take a short trade. Targets will be 42100, 42000. Below PDL we can get a trend day in BankNift

  Market Context -   Market is sideways and very volatile at the moment. It is opening gap up but all gains are getting sold off. Expect the same volatility to continue in this week as market made a big range on Monday.   Nifty50 –  If Nifty again opens gap up, wait for price to settle. We will plan to take trade near 17660-17650 zone. If market opens gap down and start trading below PDL, we can see plan for a short trade and it can be a good sell off in same direction with targets 17500, 17450. Chart for reference-        BankNifty -   Same goes for BankNifty as well. If opens gap up, don’t chase it for long or short trade. Let it settle around 42300-42330 zone. Then we can take trade accordingly. For a short trade, the best will be to BankNifty starts below PDL and then we may get a trending tomorrow in downside. Initial targets will be around 41870 and then 41700. Chart for reference-      Abbreviations used in Chart-   PDH – Previous day High PD

  Market Context -   Sideways to bullish. Expecting now market to be range bound before giving a further breakout. BankNifty gave a good one side rally which I wrote in previous blog. Nifty was bit of choppy as it has already given good rallies in past one week.     Nifty50 –  Nifty has made consecutively three green candles on weekly basis. For next week I am expecting to Nifty to consolidate more as many companies has results on upcoming week. Range can be between 17600- 18100 weekly. For tomorrow, 17785-17800 can act as a flip zone. If Nifty opens flat or gap up, we will wait for it to settle down near 17800 before going for a long trade. Upside target will be 17850,17890. If opens gap down, same it should take a bounce till 17800, After that if bearish price action is formed we can go for short with targets as 17730, 17700. Chart for reference-        BankNifty -     Last week BankNifty also gave a very good rally especially on Thursday. This week we ma