EquityCompound2

30th Aug' 2022 (Evening)  --  |  Written at 8.15 PM on 31st Aug' 2022  | After the anxiety on Monday, Globally the sentiment was a bit more confident and that boosted the morale of Indian Investors. Buying was seen across the board and the Indices made stellar gains in a single trading day. #Nifty gained 446 points to close at 17759 and #BankNifty gained 1260 points to close at 39536. With this both #Nifty and #BankNifty closed above the highs of Thu (monthly closing). This may be seen as a sign of strength. However, lets look at the levels first and then we will discuss further If we look closely at the levels we find the first support levels are now a bit far from the spot price on both #Nifty and #BankNifty. This is due to heavy buying seen on Tuesday. The first levels are now close and the markets have seen a sharp rise on Tue. I would expect the Indices to consolidate at the current level now. With some short term traders taking some profits out, Both #Nifty and...

26th Aug' 2022 (Evening)   --   |  Written on 28th Aug' 2022 at 1.30 PM  | Page 1/2 After a fag end cool down on Thursday, Markets opened gap up on Friday. Made some gains from there, however got sold off and slipped to close at the Day lows. While #Nifty saw a continuous slide, #BankNifty saw some support at the lower end and traded in a range. Both #Nifty and #BankNifty made inside candles on a daily chart. The change in behavior I observe is that after the follow up selling on Monday, for two days ie Tue and Wed, the markets saw a gap down opening and then buying coming in to support at these lows, with market closing at day highs. On Thu and Fri the Indices saw gap up opening and then selling coming in at some time to close at day lows.  So a bit of change in the behavior and this is driven from the #FII changing their stance in the markets. However, as in the past, the #DII came to rescue and supported the markets. Levels : #FII on Thu closed a lo...

24th Aug' 2022 (Evening)    --   |  Written at 9.00 PM  | Markets opened gap down today as well. The intraday pattern was a bit similar to yesterday, with some quick buying, then selling and the dip getting bought again to close at the day highs.  Both #Nifty and #BankNifty made strong bullish candles on the daily chart. #BankNifty though seems to be relatively stronger than #Nifty. The price action in the second half of the day convincingly took off the first resistance mentioned yesterday. #Nifty on the other hand is still battling the same. However, both #Nifty and #BankNifty are staring at this level as the barrier between the recent high and the current level. The demand that comes in at the opening levels has been pretty strong.  Levels : Analyzing the charts and the price action today, I get the feeling that both the Indices made an attempt to take down the resistance mentioned yesterday. First attempt failed and the second attempt of #Bank...

24th Aug' 2022 (Evening)  --  |  Written at 12.30 AM  | As mentioned yesterday, the indices opened gap down. However, from then a sharp recovery was seen, almost up to the resistances I mentioned yesterday. Some intraday profit booking was seen from this point and then this dip was bought and the Indices closed at the high end of the trading range for the day. While #Nifty closed at the first high made, #BankNifty closed took down the day high made and closed above the first high. So, while both the Indices mad a bullish candle for the day, they actually made a daily candle with a lower high and a lower low as compared with yesterday. The buying interest seen at the opening lows today indicate a strong demand at that levels. Also the #FII ended up buying today. So let us look at the levels first Looking closely at the levels, after the recovery today, the spot price is now close to their first resistance for both #Nifty and #BankNifty. Important to see is that if the...

22nd Aug' 2022 (Evening)  --  |  Written at 11.00 PM  |  As expected and mentioned in my notes yesterday, the Indices opened gap down and then continued to slide, closing at the lower end of today's trading range. #Nifty and #BankNIfty both made strong bearish candles on a daily chart. The weak global cues this morning and through the day, did not give any reason to our markets to take a breather. A small support picked up around noon was sold off and this levels actually becomes our first resistance for tomorrow. Levels first : So looking at the levels now, #Nifty is looking at 17425 as the first level and could actually look for a deeper correction if this is taken down. On the flip side we may see resistance at 17600 if it tries to go up. #BankNifty is looking at 38150 and 38500 as the levels (with a similar commentary as #Nifty) from here. Looking at the way Asian markets closed today, Europe and US is trading as of now, we may see another gap down opening t...