EquityCompound2

31st Aug'2021 (Evening)  --  | Written at 11.00PM | Wow, what a day it was today. Nifty made historical gains, it not only breached 17000, it actually pierced through it and closed at 17132. A 400 point gain in two days. The global risk on triggered on Friday, provided the necessary impetus and confidence to make this achievement. Nifty  Nifty opened almost flat, consolidated a bit and then zoomed up. Faced some resistance at 17000 and then pierced through to close 130 points above 17000. It made a strong bullish candle on the daily chart.  Support  First support at 17050 Second support at 16900 Resistance First resistance at 17150 Second resistance at 17300 Bank Nifty Bank Nifty opened flattish as well, However, consolidated for the whole day in a tight range.  Being clue less on direction for the whole day, it actually made a Doji kind of uncertain (though bullish) candle. Support  First support at 36230 Second support at 35980 Third support at 35720...

30th Aug'2021 (Evening)  -- | Written at 11.00 PM | Nifty Nifty opened gap up and made strong gains from there. After a six day consolidation, Nifty broke out today and gained 225 points to close at 16931. Making a strong bullish candle on the daily chart, Nifty showed strong signs of growth. Support  First support 16850 Second support at 16760 Resistance  First Resistance at 16950 Second resistance at 17000 Bank Nifty Bank Nifty opened gap up and made strong gains from there. Made strong gains of 719 points to close at 36347. Making a strong bullish candle on the daily chart, Bank Nifty has after some time shown strength, though it is at a critical resistance of 36300. Important to see that it breaks out from here or consolidates. Support First support 35980 Second support at 35720 Resistance First resistance at 36300 Second resistance at 36540 FII today after a long time bought for 1200Cr and DII also bought for 688 Cr. A good 1900 Cr of buying on the institutional side...

27th Aug'2021 (Evening) -- | Written on 29th at 11.15PM | First of all apologies for not being able to post my notes for the last three weeks. Days filled with mixed feelings kept me engaged. Aug series resulted in an expansion of approx 1000 points on Nifty, however, kept Bank Nifty constrained in a tight rage of approx 1000 points and capped at 36300 on the top side. The sentiment kept seeing some see saw movements, however overall the bulls rode the indices with Nifty gaining 6%, Bank Nifty gaining 2.4%, Mid cap gaining 0.9% and Small Cap losing 3.8%. Following US, Indices in the last week were trading cautiously, waiting for the FED direction expected on Friday. The outcome finally was a reliever and US indices made some strong moves on Friday. Nifty Nifty opened flattish on Friday, lost some ground losing 157 points, got support at 16565 and gained quickly to close strong at 16705. Making a strong bullish candle with a large lower shadow, it indicates support at 16560 and stre...

9th Aug' 2021 (Evening) -- | Written at 10.30 pm | Nifty Nifty again opened higher today and then got sold off dipping 140 points to rise again and close marginally below its opening level, making a bearish candle on the daily chart. Nifty made a lower high and a lower low for a second consecutive day. The intraday range was also marginally wider than yesterday. Nifty intraday did breach yesterday's and Friday's low, however it did recover and close above its yesterdays close. If followed up tomorrow, this could be a short term swing low. The higher limit of 16330 was protected today. Watch it for tomorrow. A breach of 16330 may take Nifty to 16380 and further expansion to 16400-16450 While a weakness may take it down to 16180 and its breach may trigger a sharp correction to 16000. Bank Nifty Bank Nifty opened higher and also made a similar pattern like Nifty, However, unlike Nifty it did not breach its first 15 min low at any time and then recovered to make a bullish candl...

6th Aug' 2021 (Evening)  --  | Written at 5.15pm on 8th Aug' 2021 | Nifty Nifty on Friday opened marginally up, lost some ground and then again rose to make a intraday high of 16336 before closing at 16252, making a bearish inside candle on the daily chart. Important is that the low of Thursday at 16210 was protected, indicating some strength at this level. Now we need to watch for an immediate short term perspective a breach of this candle on either side. A breach on the higher side may expand the Index to previous high of 16380 and then if this is taken out, we may see 16400-16450 level. A breach on the lower side, may trigger a sharp correction towards 16000 level. Bank Nifty Bank Nifty also opened slightly higher and then was sold off to make a low of 35700, it could not regain the opening level through out the day and could only close at 35809, making a bearish inside candle on the daily chart. Again on Bank Nifty the Thursday low of 35661 was protected. Though the index ...

5th Aug'2021 (Evening)  --  | Written at 10.30PM | Nifty After the stellar move over the last two days, Nifty took a breather today. Nifty made a small bearish Doji kind of a candle on a daily chart. Indicating some uncertainty. After touching 16380 intraday, it closed at a new all time high of 16294. Important is to see, which side is protected tomorrow, todays low of 16210 or todays high of 16380. Generally speaking a breach on the higher side may elevate the inde to 16400-16500 level while a breach on the lower side, may make it test 16200 again. Bank Nifty  After the two day move, Bank Nifty lacked strength today. After opening slightly higher, it lacked strength and started sliding. While it did pick up some support at 35661, making a 200 point recovery, it made a bearish candle on a daily chart, closing at 35834. Bank Nifty seems to be weaker than Nifty and there are good reasons for it to be like this. FII again sold for 700Cr today and DII bought the same. Both ar...

3rd Aug' 2021 (Evening)  --  | Written at 10.15 PM | Nifty  So finally it was a historic day today. Nifty took off 16000 and what a way it was, once taken off, it directly landed and closed at 16130. It took almost 120 days of consolidation for Nifty to move from 15000 to 16000. After that small bullish candle made yesterday, It took off today right from the morning and never looked back. A strong bullish candle was made on the daily chart. Bank Nifty  Bank Nifty also followed Nifty today and made a strong move to close at 35207. Driven by a short covering move, it made a rapid move in the second half losing almost 15% OI. After a small bearish candle yesterday, Bank Nifty also made a strong bullish candle on the daily chart today. FII bought for 2000Cr today in the cash market and DII sold for a small amount of 298Cr. A stance shift today. Important to note here is that the FII participation has been particularly weak during this move from 15000 to 16000 on Nifty. O...

30th July'2021 (Evening) -- | Written on 1st Aug at 6.00PM | Nifty  opened mildly in green on Friday, made a decent gain and a high of 15862, however was sold off towards the end of the day and closed in red making a small bearish candle on a daily chart. Nifty has stayed in a range of 15640-15920 for the last 36-37 trading sessions. Barring a few occasions of intraday overshoot from this range, it has stayed within this range. On a weekly chart however, Nifty has been making lower highs and lower lows for the last three weeks. Though the closing has always in a range as mentioned above.  Bank Nifty Opened flat on Friday and was sold off , made an attempt to recover towards the second half. Could not cover much ground and closed slightly lower and made a bearish candle on the daily chart. Bank Nifty has stayed in a range of 34400-35800, barring a few occasions of movement out side this range. On a weekly chart Bank Nifty has also made three consecutive candles of lower highs a...