EquityCompound2

29th July' 2022 (Evening)  --  |  Written on 31st July' 2022 at 9.00 PM   | Markets closed the July series on strong note. #Nifty made a rise from 15758 to 16929 and #BankNifty made a rise from 33642 to 37378. Most of these gains were made in the second half of July. The first trading of the current series saw further build up of positions on the long side.  With #Nifty making a gain of 228 points and #BankNifty made a gain of 113 points on the first day of Aug series. So before we discuss on where do we see the markets going from here, let us look at the levels first... So the way I see it, Nifty has a runway for a good move, This could be supported by #HDFCBank and #Reliance. The IT stocks are very close to their resistance now, if these are taken down, the #NiftyIT may also support #Nifty. I believe the IT stocks like #TCS and #Infy have multiple resistance levels from here and they would have to take hem all down to move up. #FII bought in cash on Frida...

19th July' 2022 (Evening)  --  | Written at 11.00 PM |  The markets opened gap down today to weak global cues. After opening though there was nothing to look back at. After an initial hurdle at 16325, the markets breached this level and closed strong with #Nifty at 16340 and #BankNifty at 35720. While i was expecting #Nifty may take down 16325, I actually expected #BankNifty to face a stiffer resistance at 35500. However, #BankNifty actually did face resistance at 35500, but then eventually took down 35500 level. Let us look at the levels now, before we get on to discuss : With 16325 down for #Nifty, we may now be looking at 16500 as the next level. This one could be strong. On the other hand #BankNifty is now looking at 36000. Now this may come tomorrow itself, if the US markets continue to trade the way they are at the moment. #DowJones is trading 570 point in green as I am writing these notes and #Nasdaq is trading 280 points in green. This may lead to a gap up opening...

18th July' 2022 (Evening)   --  | Written at 9.00 PM  | It was a good day for the markets today. Boosted by the move in US markets on Friday and taking support from the strong Global cues this morning, #Nifty gave a strong performance. Same goes for #BankNifty. As mentioned yesterday, #Nifty opened at 16151 and this was the level I mentioned yesterday to watch. Once held, #Nifty was strong and made strong moves to close marginally above its resistance of 16275, that i mentioned yesterday. #BankNifty also performed exactly as expected and mentioned yesterday in the comments. We may now be looking at 35500 level. However, let us look at the levels before we discuss further. Now with #Nifty having closed above 16275, we may be eyeing 16325 and then 16500 if it is able to take down 16325. Nifty will need #FII support for this to happen. Some sectors that need to support for this are #NiftyIT and #BankNifty.  As of now I see a resistance at 35500 for #BankNifty. #Nif...

15th July' 2022 (Evening)  --  |  Written at 5.00 PM on 17th July' 2022  | Market movements have been cryptic lately. After making a swing low of 15858, #Nifty consolidate and on Friday made an inside candle on the daily chart. From 16275 to 15858, this was a good 400 plus point slip in just 4 days. #BankNifty also made almost similar Inside candle on Friday on a daily chart. Though it seems a bit more vulnerable compared to #Nifty. Lets quickly see the levels before discussing further.... #Nifty has some small supports at 16000 and 15950 before its first support at 15925. On the upper side, a gap up opening is possible and it may open above its first resistance of 16075. So important to watch if 16150 levels holds and if #Nifty starts taking out 16275. Advice to go long only if #Nifty starts trading above 16275. On #BankNifty we may open around 34900 and that is its first resistance level. So need to watch if this levels holds, if it does we may prepare for a move t...

 8th July' 2022 (Evening)  --  | Written on 10th July' 2022 at 6.30 PM  | First of all I apologize for being off markets for some time and not actively sharing my notes. Sometime, life is not so kind with us. Ok so lately markets gave some relief from the unnerving moments it was throwing on us and challenging us. The market texture suddenly changed to kind of risk on mode. While a lot of theories have been proposed for this, I believe we should be focused on the price action and Market levels.  Easing of commodity prices, viz Oil, metals have been the basis for these theories to crop up. With a drop in the commodity prices, the Inflation is expected to getting tamed and hence a softer stand by FED is expected.  From our standpoint, a drop in Oil prices is always seen positively. Weakening of Rupee is positive for IT and rate rises are seen positively for the Banking sector. All these heavy weights lead to a rise in Index. This recent surge could also be a ...