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 ...