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17th February' 2023 (Evening)

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17th February' 2023  (Evening)  --  | Written at 7.00 PM on 19th February' 2023  | Markets on Friday were generally weak and most of the indices were weak. This week being the last week of this trading month and also loaded with multiple important events globally led to some caution amongst global investing community. In the Indian markets, Nifty was strong on weekly chart and weak on the daily chart. On the daily chart it made a strong bearish candle, though staying above an important level. This was back to back the second day of losses on Nifty. Nifty Supports :- First supp - 17880 / Second supp - 17725 / Strong supp - 17350 Nifty Resistance :- First Res - 18050 / Second Res - 18150 / Strong Res - 18200 Bank Nifty on the other hand was weak and made a bearish engulfing candle on the weekly chart. On the daily chart it broke down on an important level and now shows the following levels.. BankNifty Supports :- First supp - 40875 / Second supp - 40600 / Strong supp -...
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27th January' 2023 (Evening)

27th January' 2023 (Evening)  --  | Written at 1.30 PM on 29th January' 2023  | #Nifty and many other stocks, specially the banking stocks got severe beating on Friday. The #HindenburgReport created havoc on the #Adani shares. The banking stocks followed as there were concerns related to high leverage of the #Adani group and exposure these banks have towards them. #BankNifty was the first one to get screwed. #SBIN and #ICICIBank were the ones that got hit badly. While #HDFCBank, #KotakBank also lost.  #Nifty made a strong bearish candle on the daily chart. This led to it breaching some important levels on #Nifty. 17725 was one such level and in fact at one point, #Nifty also breached 17500.  While #Nifty did make some recovery in the last hour or so, i feel it is not out of clouds.  I somehow have a hunch that #Nifty lost some important levels due to #BankNifty (Of course) and valuations. A reason was being sought by the Indices to correct a bit. ...
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4th November' 2022 (Evening)

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4th November' 2022 (Evening)   --  | Written at 8.00 PM on 6th November' 2022  | Publishing the notes after a gap today. So first sorry for that. Having a full time day job, brings its own set of challenges and sometimes, the work pressure makes it extremely difficult to squeeze time to analyze and publish the analysis. I mentioned in the previous notes that a major resistance at 17900 will be breached and advised to watch the price action. The indices pleasantly obliged and have been holding strong at these levels. On Friday also, #Nifty made a strong bullish candle on the daily chart. It has also ended the weekly candle strong on a bullish note. #BankNifty is showing some exhaustion and is witnessing a brutal tug off war between bulls and bears. We will discuss all this, but before that, levels... From the levels above, 18200 seems to be a resistance level for #Nifty and 41550 the resistance for #BankNifty. However, if we compare the range of first support to first...
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28th October' 2022 (Evening)

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28th October' 2022 (Evening)   --   |  Written at 9.30 PM on 30th October' 2022   | The last month closed on a high note. Starting weak, the month of October saw decent gains and closed almost at month highs. Market was still strong and on the first day of the current series also, the indices were relatively strong.  #Nifty made 4 consecutive bullish candles on the daily chart. #BankNifty made a bearish candle after 3 bullish candles, however still made a higher high and a higher low. Levels : Both #Nifty and #BankNifty are in a range of 17650 to 17900 and 39825 to 41550 respectively. In this range #BankNifty saw some profit booking on Friday, while #Nifty is yet to test the upper level. I expected #Nifty to test 17900 on Friday, however this did not happen. This may probably get breached in the opening tomorrow. Important to see is that will this trigger a profit booking and a rejection of the level or will the level hold. On Friday, the first tr...
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25th October' 2022 (Evening)

25th October' 2022 (Evening)   --   |  Written at 11.00 PM on 26th October' 2022  | 1. FII were net selling for 247 Cr today, while DII were buyers for 872 Cr. A net buying of 625 Cr from the institutional side. 2. FII's created 1390 longs and unwound 17862 shorts on the index futures 3. On the option front FII  unwound 7656 short calls and   unwound 28440 short puts. They also closed 34543 long calls and  closed 96232 long Puts. 4. For next week expiry, Nifty has the highest OI for PE at 17500 followed by 17600 and highest OI for CE is at 18000 followed by 17800. Highest Put writing was seen at 17700 and highest call writing was seen at 17800 levels. 5. For the next week expiry, Bank Nifty has the highest OI for PE at 40000 followed by 40500 and highest OI for CE is at 42000 followed by 41500. Highest Put writing was seen at 41100 and highest call writing was seen at 41500 levels.  6. Asian markets closed mostly in green today and ...
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