EquityCompound2

29th Sep' 2021 (Evening)  --  | Written at 11.00 PM  | Following the spectacular day markets saw yesterday, the indices could not capitalize on the positive global cues coming in today. US Futures were trading well in the green throughout the day. Our indices however, opened lower and consolidated through the day. Primarily due to buying coming in from the Domestic institutions. Nifty Nifty opened approx 100 points lower and was gradually bought to come in the green for some time in the day. But was again sold off and settled at 17711. Nifty made a bullish inside candle on the daily chart. It is currently holding the low and high of yesterday. Support  First support at 17610 Second support at 17525 Resistance  First resistance at 17780 Second resistance at 17900 It is important to see tomorrow's movement of Nifty, if todays high is respected and a lower low is created, it would be a cause of concern. 17576, would be a sacrosanct stop loss for any fresh longs tho...

28th Sep' 2021 (Evening)  --  | Written at 11.00 PM  | Wow, what a day it was today. Markets made a bungee dive today. A deep dip followed by a quick rebound.  Driven by weak global cues, a risk off sentiment was triggered and markets saw aggressive profit booking, however buying came in at lower levels and a spectacular recovery was seen. More than half the days loss was recovered by the day close. Nifty  Nifty opened higher and was sold off from these levels. Lost more than 300 points, picked support at 17576 and recovered close to 170 points and closed at 17748. Nifty made a strong bearish candle on a daily chart. This candle however had a long lower shadow, indicating a strong buying at the lower levels of the day. Support First support at 17650 Second support at 17575 Resistance  First resistance at 17776 Second resistance at 17850 Bank Nifty Bank Nifty opened higher and was sold just like Nifty. Lost more than 1000 points before picking support at 373...

24th Sep' 2021 (Evening)  --  | Written on 26th Sep at 11.00 PM | Continuing the momentum generated on Thursday, The markets on Friday opened higher but could not build further and sold off a bit, only to pick support and recover slightly. Nifty Nifty opened 75 points higher, made a high of 17947, got sold off and picked support at 17819 and recovered 40 points to close at 17853. Nifty made a bearish candle on a daily chart, it has small upper and lower shadows indicating it is still in a bullish range. Support  First support at 17740 Second support at 17650 Resistance  First resistance at 17900 Second resistance at 17950 Nifty continues to be in a bullish zone. Only below 17650 we could see a drift towards 17325. Till then dips towards the support are good opportunities to buy. Bank Nifty Bank Nifty opened 180 points higher and continued to rise till its resistance of 38100. Got sold off from there and picked support at 37680 to close at 37830, approx 150 points fro...

21st Sep' 2021 (Evening)  -- | Written at 11.00 PM | Following a nice recovery in the US markets towards the end of their trading session and strong global cues coming in this morning, we opened decently in green. But then had a roller coaster ride through the day to end fairly strong. Nifty Nifty opened 60 points up and then built up further to make a high of 17578 before being sold off to 17326, recovered strong to close near the day high at 17562. Nifty made a decent bullish candle with a long lower shadow, indicating support at the lower level. Support First support at 17450 Second support at 17325 Resistance  First resistance at 17625 Second resistance at 17670 Nifty may open above the first resistance tomorrow. The first resistance is only relevant if Nifty opens below it or gets sold off to below this level immediately after opening. The trading range of Nifty could be between 17325 to 17675 now. Watch for a breach of this range. Bank Nifty Bank Nifty opened apprx 100 p...

20th Sep '2021 (Evening)  --  | Written at 11.00 PM | As mentioned yesterday, following global cues, Indian indices opened weak today. However, they made some decent recovery before being sold off heavily. The indices closed at lower levels of the day. Nifty Nifty opened 140 points lower, made a strong recovery and got in the green zone, before being beaten down again to close 188 point lower. Nifty made a strong bearish candle with a large upper shadow on the daily chart. This indicates a sharp rejection from these highs and a strong resistance at that level. Whether this proves to be trend reversal, is yet to be proven. I am not bearish as of now and would wait for some critical levels before making my decision Support First support at 17250 Second support at 17150 Resistance  First resistance at 17500 Second resistance at 17625 As mentioned yesterday, Nifty has now established a wider trading range. An increased VIX is the indication as well, Reasons are driven from a ...

17th Sep' 2021 (Evening)  --  | Written at 11.00 PM on 19th Sep | The indices on Friday opened above the levels I had been mentioning for some time and made some decent intraday highs, before seeing some profit booking. Nifty Nifty opened at 17709 and made an intraday high of 17792, got sold off till 17537 and then again recovered to settle at 17629.  Nifty made a bearish candle on the daily chart, indicating a range of 17550 to 17800. We need to watch a move outside this range for picking up a cue on the next course. Support  First support at 17525 Second support at 17350 Resistance  First resistance at 17660 Second resistance at 17790 Range of Nifty has widened with an increase in VIX as well. Nifty indicates a trading range of 17350 to 17790 Bank Nifty Bank Nifty opened at 37929 and made an intraday high of 38112, got sold off till 37396, then recovered to settle at 37811. Bank Nifty made a Doji kind of candle on a daily chart, indicating a bit of uncertainty...

9th Sep' 2021 (Evening)  --  | Written on 12th Sep at 3.00 PM | The indices on Thursday opened mildly in red. While Nifty had a bullish bias through out the day, Bank Nifty had a relatively negative bias. Nifty  Nifty opened 58 points lower and then was strong from there for the whole day. It finally closed at 17369, 16 point higher than the previous close. Nifty made a bullish inside candle on the daily chart. It is around 26 point from its intraday all time high of 17383. Support First support at 17250 Second support at 17150 Resistance First resistance at 17380 Second resistance at 17430 Bank Nifty Bank Nifty opened 43 points lower at 36725, made some gains till 36850 and then sold off till 36600, made a small rebound till 36750 and then again got sold off till 36570 befors finally closing 80 point lower at 36683. Making a Doji kind of Bearish candle, Bank Nifty indicated a lack of direction. Support  First support at 36450 Second support at 36150 Resistance ...

8th Sep' (Evening) -- |Written on 9th Sep at 5.20 AM | Indian indices opened mildly in green, while BankNifty was stronger than Nifty when we started, Nifty also made a comeback from 17250 and caught up with BankNifty to close strong. Nifty Nifty opened mildly in green, got sold off and went south for almost 100 point plus up to 17250, however picked resistance at 17250 and made a strong rebound to close at opening levels. While the candle was mildly bearish, Nifty made a hammer pattern on the daily chart indicating support at lower levels. Support  First support at 17250 Second support at 17150 Resistance  First resistance at 17380 Second Resistance at 17440 Fresh longs are not recommended at these levels. Compulsive traders can make fresh longs, if Nifty crosses 17440. Keep and eye Bank Nifty though. Bank Nifty Bank Nifty opened flat, got sold off a bit in opening hrs, but then picked support from 36400 and made a steep rise to 36800, corrected to 36500 again, but then was b...

6th Sep' 2021 (Evening)  -- | Written at 11.00 PM | The indices opened higher and then were sold off to slide a bit from their day highs. While Nifty picked up support and held its ground above the previous close, Bank Nifty closed slightly lower. Nifty Nifty opened approx 75 points higher, made small gains and an intraday high of 17429 and then an intraday low of 17345 (still higher than previous close) and then consolidate to close at 17377. Nifty made a Doji kind of Bearish candle on the daily chart, indicating a bit of uncertainty ahead. Support First support at 17225 Second support at 17050 Resistance  First resistance at 17428 Second resistance at 17500 Bank Nifty BankNifty opened slightly higher, got sold off, picked support at 36550 and then closed around its low at 36592. Bank Nifty made a bearish candle on the daily chart. On an hourly chart it shows a lower high formation consecutively with support around 36500. Support First support at 36550 Second support at 36200...

3rd Sep' 2021 (Evening)  --  | Written on 5th Sep at 7.30 PM | Markets on Friday opened slightly up, got sold off a bit initially but then Nifty picked up good support and spiked off to a new closing high of 17323. While Bank Nifty consolidated and traded in a range of approx 600 points before closing at 36761. Last week performance of important indices Nifty gained 618 points with a trading range of 575 points Bank Nifty gained 1133 points with a trading range of 1417 points Nifty Mid cap gained 1354 points with a trading range of 1250 points Nifty Small Cap gained 406 points with a trading range of 400 points. Indication is of a broader market support. The market breadth is strong again. Nifty  Nifty opened 30 points higher, consolidated and came down to 17212, but it then picked momentum and made a new intraday high of 17340 before closing at 17323 near its day high. Nifty made a bullish candle on a daily chart, indicating a continuing of momentum at the current level....

2nd Sep' 2021 (Evening)  -- | Written at 11.00 PM | 1. FII were net buyers for 348 Cr today, while DII were buyers for 381 Cr. A net selling of 729 Cr from the institutional side. 2. FII's created 5914 longs and unwound 7848 shorts on the index futures 3. On the option front FII  sold 170975 calls and   unwound 100670 puts. They also bought 172806 calls and  unwound 120504 Puts. 4. For next week expiry, Nifty has the highest OI for PE at 16500 followed by 17000 and highest OI for CE is at 18000 followed by 17500. Highest Put writing was seen at 17200 and highest call writing was seen at 17500 levels. 5. For the next week expiry, Bank Nifty has the highest OI for PE at 36000 followed by 36500 and highest OI for CE is at 37000 followed by 38000. Highest Put writing was seen at 36000-36800 and highest call writing was seen at 36800-38000 levels.  6. Asian markets closed mixed today and Europe closed flat to green 7. US is trading in green as of now 8. The brea...

1st Sep' 2021 (Evening)  --  | Written at 11.00 PM | After a stellar run over last two days, the indices took time to breath. Though Bank Nifty as expected and mentioned in my notes yesterday, made an attempt to breach the 37250 today. Faced stiff resistance at 37000 and settled.  Nifty  Nifty opened higher, made some small move and then saw profit booking. Was logical after this stellar move of 400 plus points in two days. It made a bearish candle on a daily chart, it however sits above its short term supports and is strong. I see it strong till it is above its support at 17050 and it closed above this. Support First support at 17050 Second support at 16900 Resistance  First resistance at 17150 Second resistance at 17250 Bank Nifty  Bank Nifty made an attempt to breach the resistance at 37250. As mentioned yesterday in my notes, once 36550 is taken off, it would make a sharp move towards 37250. However, it faced resistance earlier at 37000 itself and saw s...