EquityCompound2

27th September' 2022 (Evening)  --  | Written at 6.00 AM on 28th Sep' 2022 | Following some stability emerging in US on Mon, our Indices opened flattish on Tue, hoping for a recovery. However, after showing a flash of some green in the morning, the Indices could never capitalize on it through the day. While #Nifty kept its ground, #BankNifty actually gave way and slipped to a negative close. Both #Nifty and #BankNifty made bearish candles on the daily chart. While #Nifty was closer to the range of Monday, #BankNifty clearly made a candle with a lower low and a lower high compared to Monday. Levels : The levels above indicate a support coming in at 16900 levels for #Nifty and 38150 for #BankNifty. Bulls yesterday defended their support at this level, While on #BankNifty this support may get tested soon.  It is extremely important for these levels to hold as they may other vise they trigger a deeper correction to the levels of Jun lows. While all this may not happen in one ...

23rd September' 2022 (Evening)   --   |  Written at 4.00 PM on 25th September' 2022  | Page 1/2 After a relatively resilient first day, the second day turned out to be weak with people reluctant to put in money. The global weakness took its toll on us and a sharp selling was seen on Friday. There was no opportunity to by at any of the time intervals.  Both #Nifty and #BankNifty made strong bearish candles on the daily chart. While #Nifty closed staring at the 29th August Low the recent gains made by #BankNifty gives some space to #BankNifty from that low. Levels as we see now : As seen on the levels table above, we are now staring at the Aug lows and these levels have to hold, to prevent a deeper correction from these levels. We have been resilient recently, but then tiding against the winds for sustained periods may not be easy. The US markets are now lower than the low they made on 13th Jun. This was the time when we made our low in Jun. If you have ...

 22nd September' 2022 (Evening)  --  |  Written at 6.00 AM on 23rd September' 2022  | Responding the the weak global cues on Thursday morning, The Indian markets feathered the storm well. When most of the global Indices were weak, we could come out without major breakdowns. The problem is not over though. Both #NIfty and #BankNifty opened gap down and struggled through the day. They both found support towards the lower end of the day range and faced pressure towards the higher end of the range. On the daily chart, They both made a candle with a decent upper and lower shadow, indicating the above behavior. Levels : I had mentioned earlier that the support levels are deeper and markets are expected to consolidate above these levels. This has coincided with the global ruckus and our Indices are now at these important levels. The risk reward becomes more favorable at 17425 and 40275 though.  Based only on price action, If a long trade is to be taken they can be...

20th September' 2022 (Evening)  --  |  Written at 6.00 AM on 21st September' 2022  | Following the strong close in US the previous day, markets were globally positive and the Indian Indices also had a strong sentiment. Opening gap up the indices gained traction for some time, only to face resistance at highs. While there was not a a heavy selling form there, they did cool off a bit, Both #Nifty and #BankNifty made bullish candles, though with a reasonable upper shadow indicating resistance at the highs. Levels  The gap up yesterday has left an opportunity for this to be filled and hence the first supports are a bit deeper. The risk reward for fresh longs from this level is a bit unfavorable. Markets though continue to be strong till they are holding the support levels mentioned above. So a dip till these levels would be healthy for our indices. Since I see a decent opportunity of this gap fill and the global cues today could be somber, markets may consolidate in...

19th September' 2022 (Evening)  --  | Written at 6.00 AM on 20th September' 2022 | Indian markets yesterday opened flat and faced some selling pressure initially. The dip though got quickly bought and markets stabilized to rise through the day. Both #Nifty and #BanNifty made decent intraday highs before #BankNifty cooling off a bit, while #Nifty was still standing strong. #Nifty particularly got the strength from FMCG, Auto and some financial stocks like #BajFinance and #BajajFinSrv. Let us look at the levels While on Medium time frame #BankNIfty is strong, in extreme short term #Nifty may outperform #BankNifty. However, #NIfty is a mixed bag at the moment and would need #Reliance and #NiftyIT to contribute for this. #FII action yesterday was strong. They bought for 300Cr in cash and were forced to unwind a ot of shorts on Index futures. Repeated shorting from their side and failing to get a follow through indicates a a strong resilience of our markets from domestic participan...