EquityCompound2

31st Jan' 2022 (Evening)  --  | Written at 9.00 PM | Specially driven by the rally in US on Friday, Indices opened to strong global cues today. After opening gap up, the indices continued to hover in the positive territory for most of the time. While Bank Nifty for a small time, got into red, Nifty never even came close to Friday close. Nifty made a a small bullish candle with a higher high and higher low compared to yesterday, Bank Nifty actually made an inside candle and is playing in a range.  Nifty  Support First support at 17250 Second support at 17075 Resistance  First resistance at 17425 Second resistance at 17650 Bank Nifty Support First support at 37650 Second support at 37975 Resistance  First resistance at 38200 Second resistance at 38425 While the levels above are technically visible on the charts, my conviction is not high as the markets would be driven more from the news flow, rather than the technical levels. Trending price action may see sud...

28th Jan' 2022 (Evening)  --  | Written on 30th Jan' 2022 at 5.30 PM | So after a very volatile and interesting Jan series, Feb started with the anxiety driven from the Budget 2022. FII started the Jan series with 66% longs on Index futures and closed their longs to enter the Feb series with just 33% longs.  Indices on Friday opened gap up and tried to make further gains, however faced stiff resistance at the day highs and were eventually sold off to cool a bit. Nifty lost almost 300 points and Bank Nifty 800 points in the last two hours of Friday. Nifty Support First support at 17025 Second support at 16825 Resistance First resistance at 17225 Second resistance at 17375 Bank Nifty Support First support at 37500 Second support at 37000 Resistance First resistance at 37975 Second resistance at 38400 US markets on Friday made a decent up move and that could help improve the sentiment on our streets as well. Expect to see positive Cues tomorrow. However, keep in mind that to...

25th Jan' 2022 (Evening)  --  | Written on 26th Jan' 2022 at 10.00 PM | After some disappointing days, what a day it was. Nifty making 440 point recovery from the lows and Bank Nifty making almost 1300 point recovery from its lows.  My notes on 24th (Monday) pointed that it is a news based volatile markets and sharp movements can be expected. Interesting is that the Indices picked support from the exact levels mentioned in my notes on Monday.  While on Monday there was practically no put writing, Tuesday was a day of unwinding. Be it long or short options on both sides, they were just unwound and exits taken. Probably because of the off, a day before the monthly expiry (one that is leading to the budget). Except Bank Nifty did see some reasonable put writing. Nifty  Support First support at 17175 Second support at 17050 Resistance First resistance at 17325 Second resistance at 17525 I would maintain a bullish outlook, till the Index is above 17050, be neutral be...

24th Jan' 2022 (Evening)  --  | Written at 11.30 PM | Markets opened to extremely weak global cues and opened gap down. A continuous relentless selling was seen since the opening and the Indices fell to a low of 16997 and 36375 on Bank Nifty. While Bank Nifty saw a reasonable recovery from the lows, Nifty kind of closed marginally above the lows. Almost all Global markets are seeing a sell off due to the concerns arising from the FED rate rise expectations and the Russia Ukraine tensions. US markets are currently trading 3-4% down. If the closing is as deep in US, we may see a serious gap down opening tomorrow and that could trigger further selling. Nifty  Support First support at 17825 Second support at 16675 Resistance First resistance at 17275 Second resistance at 17650 ( does not seem to be relevant as yet) Bank Nifty Support First support at 36375 Second support at 35400 Resistance  First resistance at 37075 Second resistance at 37750 (Does not seem to be releva...

21st Jan' 2022 (Evening)  --  | Written on 23rd Jan' 2022 at 9.00 PM | Page 1/2 seeing the strong sentiment in US on Thu evening, I was expecting the markets to open a bit strong on Friday. However, a sharp fall of all US Indices from their highs led to a decline in the sentiment on our streets also.  I mentioned on Friday morning that the US markets are entering into sell on rise mode and this would definitely put pressure on our markets as well. Both Nifty and Bank Nifty made Doji candles on the daily chart. The reaction to the further slip in the US on Friday would reflect on our markets tomorrow.  It would be important to note that while Nasdaq, Dow and S&P are 15%, 7% and 8% away from their all time highs. Nifty and Bank Nifty are 5.3% and 10% away.  On a weekly chart, both Nifty and Bank Nifty have made a bearish engulfing candles and market has to, now,  hunt for a support.  Nifty  Support First support at 17475 Second support at 17350 ...