EquityCompound2

18th Feb' 2022 (Evening)  --  | Written at 9.00 pm on 20th Feb' 2022 | Indices opened gap down on Friday and gyrated around the opening level. After making some minor gains intraday, the closing was almost at the same as opening. While Bank Nifty closed marginally in green, Nifty actually closed lower. On a daily chart,  both Bank Nifty and Nifty made a bearish candle with an upper shadow, indicating resistance at higher levels. The candle on Friday was with a lower high and a lower low, so the trend kind of continues to slide.  Indian indices, Generally seem to be having a bearish bias. Both Nifty and Bank Nifty seem to be showing a bearish trend on Weekly, Daily time frame. Bank Nifty is temporarily showing some strength.  Though, I feel, generally it is a sell on rise market in short term, a General direction of the market in short term is difficult to predict at the moment. I would look at a breach of the first support or first resistance above to create an ...

17th Feb' 2022 (Evening)  --  | Written at 10.30 PM | Indices today opened marginally in green, but started losing ground as soon as the markets opened. Picked some support half through the day, then again lost ground to close at day lows. The Indices however, did not breach the critical supports today. However, the markets closed just above the critical supports, this leaves little scope for the markets to absorb any negative news or cues coming in from the global markets. Both Indices made bearish candles on the daily chart with lower highs and lower lows. While on a daily chart the levels have drifted lower, they haven't breached the critical levels. Nifty has a critical support at 17225 and Bank Nifty has it at 37475. If these levels are breached tomorrow, we may see 17125 on Nifty and 37300 on Bank Nifty. Below 37300, Bank Nifty may retest the recent lows. The reason I have mentioned additional levels above is that because the news shattered all stop losses in the last da...

16th Feb' 2022 (Evening)  --  | Written at 9.30 PM | As expected, the Indices were in a consolidation mode today. After a higher opening, the indices gave away some gains, picked support and rose again, only to lose it again at the end of the day. The Indices gave two swings in the day with almost same high and low.  On a daily chart the Indices made bearish candles with a higher high and higher low. The chart structure is intact to see some more gains. However, do not forget, we are in a news based market, so beware of NEWS. Levels  Nifty held the 17250 level today and above this, it may make fresh attempt to rise further. Todays high of 17490 continues to be a resistance. If this level is taken down, we may see a rise towards 17650. Bank Nifty has to stay above 37750 to make a fresh attempt towards 38500, of taken down, it may open 38900. Lets see.. The overhang of Russia Ukraine hasn't gone. Just a reminder. The US 10 Y yields are now at 2.040 and are now stable a...

15th Feb' 2022 (Evening)  --  | Written at 11.00 PM | Last two days have been phenomenal. Yesterday was a day of the largest fall and today was a day of largest gains. A 500 point swing on Nifty and a 1500 point swing on Bank Nifty in a day. Not sure on how many would have caught this swing. Well I could catch a good part of it, both ways. Fruitful two days for me. The Russia Ukraine tension was the overhang, i mentioned for the last days and yesterday it played it on our markets with a bang. The news brought the market down and the same lifted it again today. Both the Indices made engulfing candles today on a daily chart and closed at day highs. They are also above their critical support levels, before the fall yesterday. Nifty closed above 17300 and Bank Nifty above 38000.  Watch the first hour low, if it holds, the rally may build on itself, else, Todays massive rally may lead to small profit booking tomorrow, Levels After the swing today, the second support is close t...

11th Feb' 2022 (Evening)  --  | Written on 13th Feb' 2022 at 8.00 PM | Indices on Friday opened gap down and then slid further from there and closed 230 and 490 point lower on Nifty and Bank Nifty respectively. Before closing they made a 70 and 120 point recovery, so to that extent the intraday dip was lower. Both Indices made bearish candles on a daily chart. While Nifty was a strong negative candle with a reasonable lower shadow, Bank Nifty was a bearish candle with a reasonable size upper shadow and  a small lower shadow, still indicative of some weakness. Levels : Seeing the Levels, the first and second supports are already very close and looking at the short term direction and the global sentiment, we may breach both of them in the opening itself tomorrow. This opens gates then to the next important level and these levels stand at 17025 and 37300 for Nifty and Bank Nifty respectively. However, I would not recommend a chase down after the gap down opening. Look at you...

9th Feb' 2022 (Evening)  --  | Written at 11.00 PM  | Opening to Strong global cues in the morning, Markets today started gap up and then continuously made gains to close at day highs n the evening. Both Indices made strong bullish candles after the hammer candlestick made yesterday on both indices. A follow up of the strength built up yesterday is a good sign. The strong rise today forced a strong short covering in the later half of the day, accelerating the rise. With tomorrow being a weekly expiry, it would be interesting to see a sustenance at these levels. Nifty  Support First support at 17375 Second support at 17050 Resistance First resistance at 17575 Second resistance at 17725 Bank Nifty Support First support at 38350 Second support at 37325 Resistance First resistance at 38900 Second resistance at 39275 After the short covering today, Nifty has opened towards 17575 and Bank Nifty towards 38900. Nifty has stiff resistance at 17500-175575 zone and Bank Nifty h...

8th Feb' 2022 (Evening)  --  | Written at 10.00 PM | Responding to strong global cues, Indian Indices opened in green today, however there was heavy selling and the Indices nosedived deep into red. Nifty lost 260 points and Bank Nifty 900 points before support came in and a sharp recovery was seen to pull the indices into green. A second round of selling dragged the indices lower again, only for the dip to be bought and get the closing in green. What a volatile day it was, after a long time. Trapping and killing traders on both sides. Trading such markets is a special skill, it calls for agility and flexibility. I am not a day trader, though I took some positions today and was lucky to come out unscathed. Levels now look like : Nifty Support First support at 17100 Second support at 17025 Resistance First resistance at 17300 Second resistance at 17525 Bank Nifty Support First support at 37600 Second support at 37300 Resistance First resistance at 38150 Second resistance at 3880...

7th Feb' 2022 (Evening)  --  | Written at 11.00 PM | Indices today opened lower and then after making a quick spike, continued to slide through the day, closing at day lows. Both Nifty and Bank Nifty made strong bearish candles on a daily chart. Nifty  Support First support at 17100 Second support at 16850 Resistance  First resistance at 17350 Second resistance at 17525 Bank Nifty Support First support at 37800 Second support at 37575 Resistance  First resistance at 38425 Second resistance at 38825 FII sold for 1157Cr today. Unexpectedly the DII also sold heavily today, leading to a sharp correction on the Indices. I did not expect Nifty to breach 17250 and Bank Nifty to breach 38300, however both the indices breached these levels.  While Nifty is below its important supports and the next important support is only at 16850 after 17100, i see some more slippage possible on Nifty. Bank Nifty though is sitting just close to its important supports, so I expect ...

4th Feb' 2022 (Evening)  --  | Written on 6th Feb' 2022 at 9.00 PM | Indices on Friday opened mildly in green and made small gains before getting sold off to slide gradually. Though there were some attempt by the bulls periodically, they could not hold and indices kept getting sold off. The indices made bearish candles on the daily chart and closed at day lows. Both Indices closed above the important supports mentioned on Thu. While Bank Nifty did breach the first support intraday, it did recover and closed above it. Since the second support of Bank Nifty is protected and it closed above the first support, I would consider this positively. Let us look at the levels first and then we discuss further. Nifty Support First support at 17450 Second support at 17250 Resistance First resistance at 17575 Second resistance at 17700 Bank Nifty Support First support at 38550 Second support at 38325 Resistance  First resistance at 38900 Second resistance at 39275 I feel for Nifty to g...

3rd Feb' 2022 (Evening)  --  |  Written at 9.30 PM | Opening to a mixed set of cues this morning. The indices maintained a negative tone through the trading day and got continuously sold to slide and settle at the days low. While Bank Nifty made a strong bearish candle, Bank Nifty made an inside candle and shows some relative strength. Nifty Support First support at 17450 Second support at 17250 Resistance  First resistance at 17650 Second resistance at 17800 Bank Nifty  Support First support at 38750 Second support at 38325 Resistance First resistance at 39225 Second resistance at 39425 FII selling reduced in the last two days and coupled with the positioning on the futures side, they gave a feeling that some cash may be expected. However, there was no follow through today and they sold for 1597Cr in cash today. FII also unwound some longs and created 12320 shorts on Index futures. So on net basis they maintain a bearish stance. Though i feel the shorting would...

2nd Feb' 2022 (Evening)  --  | Written at 10.00 PM  | Markets opened to strong global cues today and then made decent gains before a small dip, The dip was bought and the markets closed at their highs. Both the Indices made strong bullish candles on the daily chart and seem to be making a strong swing towards its recent highs. Looking at the Daily chart, seems the Indices are on a journey to touch 18300 on Nifty and 40000 on Bank Nifty. If these levels are taken down, we may see a fresh all time high on these indices. We entered the budget light and that could be one reason for the rise as fresh positions are getting loaded into the markets. Nifty Support First support at 17675 Second support at 17450 Resistance First resistance at 17850 Second resistance at 17975 Bank Nifty Support First support at 39075 Second support at 38250 Resistance  First support at 39575 Second support at 40175 Markets have risen far too fast due to the Budget euphoria, hence, while the view...

1st Feb' 2022 (Evening)   --  | Written at 9.00 PM | Our Indices opened to strong global cues today, with US closing in green yesterday and our markets reacting to it today. Added action was delivered by the Budget and as expected the markets were extremely volatile today. Nifty exhibited an intraday trading range of close to 400 points and Bank Nifty traded in a 1100 point range. Both Nifty and Bank Nifty made bullish candles with a large lower shadow, indicating a strong support near todays lows. Nifty  Support First support at 17525 Second support at 17250 Resistance  First resistance at 17650 Second resistance at 17800 Bank Nifty Support First support at 38325 Second support at 37700 Resistance  First resistance at 38800 Second resistance at 39200 Markets were not driven only on technical basis today, the swings were news driven as well. Hence, while i have better confidence than yesterday, levels may have been confounded partially.  I feel the pri...