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...