EquityCompound2

29th Nov' 2021 (Evening)  --  | Written at 10.30 PM | Markets opened gap up today, but were quickly and intensely sold off to the second support I mentioned yesterday. A consolidation from those levels gradually elevated the indices to day highs, but then again got sold off in the last hours to close lower. Nifty Nifty made a Doji kind of a candle today on the daily chart indicating a lack of clear direction. Although the closing was slightly higher than previous day, the candle was a bearish one. Support First support at 16950 second support at 16750 Resistance  First resistance at 17150 Second resistance at 17225 Nifty dropped to 16782 today but quickly gained and came back to the closing levels of Friday. I believe a strong support exists at 16775 levels. I would expect some more recovery if the support at 16950 is respected in the early hours tomorrow. A breach of this level tomorrow may again push Nifty down to 16775 and more consistently. Bank Nifty Bank Nifty made ...

26th Nov' 2021 (Evening)  --  | Written on 28th Nov' 2021 at 9.00 PM | Page 1/2 I mentioned in my last notes on 23rd Nov, that Covid has posed a new threat to global markets and this needs to be watched. The rising cases in Europe and US, received the news of a new potentially contagious variant of Covid as a market breaker and global markets crumbled under its weight. The only thing green was volatility Index :-) "Omicron" as its called is the new buzz in the scientific and political worlds and has triggered a fresh set of restrictions and some hot discussions on potential precautionary measures. While, this is to be watched and i pray that the threats anticipated never become a reality, it has come to the stock markets in more than one way. On one side, it is a threat to the economic recovery seen and projected going forward, on the other side it may temper the tone and mood of central bankers from withdrawing liquidity and tapering the bond buys. We need to watch a...

23rd Nov' 2021 (Evening)  -- | Written at 9.30 PM | Markets today opened gap down today but then started consolidating from there and closed in green, breaking the trend of continuous bearish candles from last five days. Nifty Nifty opened 120 point lower, but from there it continued to consolidate and rise higher to close strong and made a strong bullish candle on the daily chart. Support First support at 17400 Second support at 17325 Resistance  First resistance at 17560 Second resistance at 17700 The recovery today was encouraging and gives hope of further movement. However, As mentioned yesterday, Nifty continues to be vulnerable till it gives a close above 17700 and then above 18025. These two important levels define two distinct trading range for the index. Bank Nifty Bank Nifty opened lower by 350 points as well. But then it also consolidated intraday and closed strong making a bullish candle for the day. Support First support at 37000 Second support at 36650 Resistance...

22nd Nov' 2021 (Evening)  --  | Written at 11.40 PM  | Markets opened in positive today but then got on a steep slide. Both Nifty and Bank Nifty faced a steep fall. While Nifty suffered an intraday dip of 525 points, Bank Nifty suffered an intraday dip of 1586 points. Both the indices did recover close to 30% of the losses, the close was still deep in red. Nifty Nifty made a strong bearish candle on the daily chart. Touched and picked support from an important level of 17250 Support First support at 17250 Second support at 17075 Resistance First resistance at 17525 Second resistance at 17700 Nifty now in a week phase and has to cross two important levels for strength. First level is 17700 and second at 18025. For any sustainable move upwards, close above these levels is required.  Technically Nifty has completed its move towards its 20W DEMA, plus it has taken support from an important support of 17250, I would expect consolidation from here. Any cut from this level ...

18th Nov' 2021 (Evening)  --  |  Written on 21st Nov 2021 at 5.00 PM | Page 1/2 On Thu both Nifty and Bank Nifty opened flattish, with Nifty in green and Bank Nifty in red. While Bank Nifty was relatively stronger than Nifty, both indices made bearish candles on a daily chart. Nifty made some attempts to regain from its lows on 29th oct and made an intraday high of 18200 on 15th Nov, Bank Nifty has been weak since then and is now much lower than the low on 29th Oct.  Nifty  Nifty seemed strong after making its low on 29th Oct, however since 15th Nov, has lost steam and has been sliding lower. With almost all sectors specially Metals, Auto, IT, Pharma and Reliance was weak on 18th Nov. Nifty made a bearish candle on the daily and weekly chart and is now slightly above its intraday low on 29th Oct. Support Nifty First support at 17690 Second support at 17600 Resistance  First resistance at 17850 Second resistance at 17940 Nifty is at important level. From her...

17th Nov' 2021 (Evening)  --  | Written at 9.30 PM  | As expected and and mentioned in my notes yesterday, The indices opened gap down. Though immediately after opening their was some buying and the indices rose, but then got sold off, only to rise again after some time, but got sold off again. So there was an attempt twice to take off the day high. Nifty Nifty made a bearish candle on the daily chart with a long upper shadow, indicating resistance and sell off at higher levels. Support  First support at 17840 Second support at 17775 Resistance First resistance at 18050 Second resistance at 18125 The short covering I was expecting today, came about earlier than expected and got sold off heavily. After making a double top intraday today, Nifty may not immediately retest the high of 18050 again tomorrow. I expect it to pick some support from the levels mentioned above. Though a breach of these supports may push the index further down to retest the lows of 29th oct. Ban...

16th Nov' 2021 (Evening)  --  | Written at 10.15 PM | Both Indices opened mildly in green today, however, the selling that started yesterday continued and picked up intensity in the last two hours closing at he lower end of the trading range today. Nifty Nifty opened 20 points higher and then started sliding making a strong bearish candle on the daily chart. Support First support at 17950 Second support at 17875 Resistance  First resistance at 18050 Second resistance at 18125 Nifty saw some heavy selling in the last hours and is currently trading close to (slightly lower) its 20DEMA. Todays selling has put pressure and the index is expected to slide lower and pick support from its support levels. A strong support exists at 17800 for Nifty. Bank Nifty Bank Nifty opened almost flat and then was sold off to make a strong bearish candle on a daily chart. Support First support at 38200 Second support at 37800 Resistance  First resistance at 38400 Second resistance at 3872...

12th Nov' 2021 (Evening)  --  | Written on 14th Nov' 2021 at 11.00 PM | Page 1/2 The last day of the week finally saw a strong short covering and as mentioned from last two days, Nifty closed above its 20 DEMA and closed exactly its resistance of 18100.  Bank Nifty though was not as strong as Nifty, it did pick support at and close above its 50DEMA. A classic scenario for a bounce back. Nifty  Nifty made a strong bullish candle on a daily chart with a reasonable lower wick. This pattern is suggestive of a reversal and change of sentiment. Though a follow up is important for confirmation.  Support  First support at 18050 Second support at 17950 Resistance  First resistance at 18175 Second resistance at 18250 Nifty closed to its important resistance at 18100 and I expect a gap up opening tomorrow above this level. A protection of this in the early trade tomorrow, could open gates for a journey towards the levels of 18250 and 18350. Bank Nifty Bank Nifty ...

11th Nov' 2021 (Evening)  --  | Written at 11.00 PM | 1. FII were net sellers for 1637 Cr today, while DII were buyers for 445 Cr. A net selling of 1192 Cr from the institutional side. 2. FII's created 6735 longs and created 4473 shorts on the index futures 3. On the option front FII  sold 100845 calls and   sold 67311 puts. They also bought 106262 calls and  bought 70869 Puts. 4. For next week expiry, Nifty has the highest OI for PE at 17500 followed by 17400 and highest OI for CE is at 18000 followed by 18100. Highest Put writing was seen at 17800 and highest call writing was seen at 18000 levels. 5. For the next week expiry, Bank Nifty has the highest OI for PE at 38500 followed by 37500 and highest OI for CE is at 39000 followed by 38500. Highest Put writing was seen at 38500 and highest call writing was seen at 38500 levels.  6. Asian markets closed mostly in red and Europe closed in green 7. US markets trading mixed as of now, with Dow in red and...

10th Nov' 2021 (Evening)  -- | Written at 11.00 PM  | Markets opened today on a pretty much expected note. Global cues were not very strong and accordingly our indices opened weak and continued the slide.  As mentioned yesterday, that Nifty is stronger than Bank Nifty, it picked support and recovered losses to make a bullish candle, Bank Nifty closed at the low end of the market today. Nifty Nifty made a bullish candle with reasonable upper and lower wick. While it closed below yesterdays close, it consolidated well and it is still within the Monday trading range.  Support First support at 17940 Second support at 17850 Resistance First resistance at 18100 Second resistance at 18200 Nifty peaked when Reliance, Nifty IT and Bank Nifty all were at the peak. All these major indices are in consolidation as of now. A broader consensus is required for Nifty to attemt the Highs it made recently. Today, Nifty picked up support driven from Reliance, HDFC, Auto and some pharma ...

9th Nov' 2021 (Evening)  --  | Written at 10.45 PM  | Markets were mostly range bound today, with heavy selling at the upper end of the trading range. In fact, this has been a kind of pattern for some time, though it was happening in a tight range today. Nifty Nifty made a bearish candle today, though with a higher high and a higher low. The trading range was narrow and a long lower wick. Support First support at 17975 Second support at 17850 Resistance  First resistance at 18100 Second resistance at 18200 Nifty seemingly was picking up support in a tight range today. A sharp rise yesterday led to some profit booking today. The tight range may break tomorrow.  Bank Nifty Bank Nifty seems relatively weaker than Nifty. It was actually trading in a narrow range and made an inside candle today. Support First support at 39200 Second support at 38900 Resistance  First resistance at 39550 Second resistance at 39850 The weakness in Bank Nifty is sharp. If I am read...

4th Nov' 2021 (Evening)  --  | Written on 7th Nov' 2021 at 9.00 PM  | PAGE 1/2 Markets in general has been opening gap up and then getting sold off making bearish candles. Nifty for the last three days and Bank Nifty for the last two days. A typical sell on the rise scenario. However the silver lining is that support comes in at lower levels and they haven't breached their lows of 29th Oct. Nifty  Nifty made a bearish candle on Wednesday and an inside candle in the Muhurat trading. The support of 17700 is still intact. Support First support at 17780 Second support at 17700 Resistance  First resistance at 17980 Second resistance at 18075 While Nifty has picked up some support, it is still not out of woods. It is likely to face multiple resistance before it finally does break out. I would consider a close above 18050 a positive symptom for Nifty. Bank Nifty Bank Nifty also made a bearish candle on Wed and then an inside candle on Thursday Muhurat trading. The supp...

2nd Nov' 2021 (Evening)  -- | Written at 11.00 PM  | Markets today opened gap up and were sold off slightly, picked support and stabilized. While Bank Nifty rose from there and closed strong, Nifty closed in red. Nifty Nifty opened gap up and then got sold off. Picked support at 17847, but could not gain much from there. It ended up making a bearish candle on the daily chart.  Support First support at 17825 Second support at 17700 Resistance  First resistance at 17950 Second resistance at 18025 Nifty is still above its critical level and while it may have not kept pace with Bank Nifty today, it can catch up. Bank Nifty Bank Nifty made a  bullish candle with long upper and lower shadows, indicating some range bound movement today. Some uncertainty was obvious at the levels defined by the trading range today. Support First support at 39600 Second support at 39200 Resistance  First resistance at 40100 Second resistance at 40400 Bank Nifty was seemingly stronge...

1st Nov' 2021 (Evening) -- | Written on 2nd Nov' 2021 at 8.00 AM | As mentioned in my weekend notes, post the sharp correction on Thursday and Friday, markets yesterday got a support. Both Nifty and Bank Nifty recovered and closed strong. Nifty Nifty after opening gap up, consolidated a bit and then made a strong move to close strong, making a bullish candle on the daily chart. Support First support at 17825 Second support at 17700 Resistance First resistance at 18025 Second resistance at 18100 Nifty has come closer to its 20DEMA of 17975, a close above this level could then open gates for 18200 levels. Lets see... Bank Nifty  Bank Nifty daily pattern was more or less similar, opened strong, consolidated and then gave a breakout above 39750 (second resistance mentioned in my notes). Support First support at 39500 Second support at 39150 Resistance First resistance at 39975 Second resistance at 40350 Bank Nifty has now breached the 20DEMA and is trading above that, this could be...