Banknifty View for 25.03.2011

The banknifty last two days trades in sideways that too in a very tight narrow range.Today it opened in gap up from 10986 to 11000 and touched a days high of 11134 level.The 11k level it traded for a long while more than few hours and it stand still almost and traded in 20 points range.Its very rare in banknifty as it used to be eratic.

We made very conservative trade and out of 3 trades we made abt 70+ points gain(1 sl hit for 17 points)Now we expect the gap down opening tomorrow as the nifty and BN has so many hurdle to claimp up.

The Nifty was struck and finally touched the 5550 level.If it cross 623 level it may act wildly bullish or another chance to fall down to 5400 level.The Banknifty may again attract sell at present.it may fall down to 10800 level as there were so many gaps left unfilled.

Great Fall&Great Recovery

Before reading this just read the previous post before this post.

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What we were saying the Gap Filling is almost filled today(9293-98 is left still) and today due to the gap down Bank nifty fell down from friday closing 9583 and this gap is also filled (9555-82 is left)to some extend in the afternoon trade.

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We had a great chance to cover our positional shorts and gained more than 500 points.we were expecting the banknifty will take supports in 9288 level and bounce back. In the opening, we did a sell for intrday and placed a buy at 9292.00 for both intra&positional.The market fell down as we expected and we covered our all our shorts at 9307.00level( our tgt is almost done the low today was 9298.00,we missed tgt in 6points,but covered shorts safely well before at 9307)

So,what will be tomorrow market...The nifty is still trade around 5050 and it has strong resitance at 5115.The bank nifty moving average is still not improved .The market in my view now is cat on the wall and it may react according to the global cue's.Technically it has to go down.

Bank Nifty and Nifty Rally continues...

In my previous post (on 23rd, feb,2010 ) just below to this post we wrote that there is an indication we found in the charts that drive the market before/after the budget and lead a rally upto 300+ points.it become almost true.The bank nifty is 400+points and nifty is around 250+points...Today nifty may face hurdle 5050level and cross over this level with volume may lead the nifty upto 5140+ and if sustain above this level may motivate another round of buy and the rally may continues to 5300+level.

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Positional long trader can book partial/full profit today.if nifty find difficult to cross over 5070 level..(Gap Filling) if it trades beyond this and move ahead hold your long for few more sessions.

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Bank nifty may move upto 9200 + level. Here, the present level is critical and book profit if you are in long positional and avoid fresh positional long.I recomend only intraday trade in baknifty at this present trend.

BANK NIFTY FUTURE TIPS

Source:- NSE INDIA

Bank nifty

Nifty

Today Nifty and Banknifty -the day trading was choppy expect the ' last half-an-hour' it certainly went up to the peak.Especially the last 15 minutes it really rocked and created great panic among the bears.No body would have expected this certain boost.

Many went short and waiting to cover it at the end and the whole market twist everthing and many day traders would have lost so much of money,i really feel sorry for them.As usual i have recived so many desparate chat messages from many people who went short and unable to cover it.i really felt bad for them,and was unable to give reasons why this certain raise? i have no answer.What all factors that drives the market...Still need to learn so much from the market.I believe the learning never ends.

BANK NIFTY -Who has the consoles?

Graph source-yahoo finance

The today market seems to be very eractic nature and done by some vested intrest who controls the consoles of the market.


Why the market fell from 8475.00 day high to 8260.00 ? from the day high to breaking earlier day low's within 2-minuts for no major reasons ? And again went upto 8420.00-level and fell to 8290.00 levels. All these happened in just 2minutes/Less than that time. Fell 215-points in such short span of time is very dangerous for all the traders.All stop loss is eaten out.Who will show further intrest for trading in bank nifty? Why such an eratic movements ? The swing within 100points to some extend acceptable in bank nifty future. but not 200+ points in one stroke.

What is happening?

All the stoploss was hit within no time and no opportunity were given to buy at low and sell at high...How is it possible in such a lightening speed ? Some people whould have minted lots of money today.

Unless or Untill some one hold the "key controls of the consoles" can only do this,I guess so. Hope you all agree with me.


(Note-

Consoles>meanining- A sceintific instrument consisting of an input device-especially in computerised music editing system / controls to adjust volume or fade just by moving a lever here and there.)

BANK NIFTY FUTURE Intra-Day Update

a)Update At 10.15am

One intraday position squred.

We asked our subscriber to buy bank nifty around 8360.00 level and many bought even at 8355.00 and asked them to exit at 8466.00.

Now no position on hand.Waiting take further positions,if there is a chance.

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b)Update At 12.52pm

We got one more chance to sell at 8489.00 (Kept a SL at 8503-Not triggered) and just now covered it at 8372.00.

Waiting for another buy chance as low as possible!!!.

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c)Update At 1.34pm

As per the expectation we got a chance for a buy at low i.e-8352.00 and sold the same just now at 8428.00

No more positions on hand.

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d)Update at 2.20pm

Sold again at 8462.00 and bought it at 8406.00

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Net Profit today from 4lots- bought and sold in intraday is (a+b+c+d)

= 106+117+76+56= 355 points X 50 = Rs. 17,750.00 (-brokerage for 4lots)

BANK NIFTY FUTURE- Intraday Update

Graph source- Yahoo finance

BANK NIFTY FUTURE Today the trend is very eratic.

Caution:- Keep strict stoploss for all your trading including scripts.

Especially the bank nifty, it is cutting down the low's and high's just like that and swing in between with more vigour.it is going up and down within no time and do not know why it claimed up 8888.00 from the day low 8665.00 ?.

Be alert of your positions, if it is intraday, square it off today.The trend may reverse if there is any small news about banks/policy changes/results etc... or something like that.

Morning we sold it in 8792.00 and covered it 8702.00 and again bought at 8677.00 and sold at 8818.00.

No positions on hand. Waiting for anoyther sell at 8900.00 levels.with 20 points stop loss,if it is viable for intraday.

Today net profit 90+141 = 231 points x 50 = Rs.11550.00 ( -brokerage for two lots)

BANK NIFTY

Source-Graph NSE.

Today was the day with so much of un-expectation.The market opened in a slight gap down and certainly zoomed up around 100+points, and around 1.30 for no reasons it just came down to 9040.00level and went upto 9115 level during the closing.

Today low was 9854.00 and high is 9116.00 levels.Around 260 points from the days low to days high.Great oppourtunity for a opening long, but most of the traders missed the chance.(i have recived many chat messages saying nothing is done).The graph shown here is the spot from yahoo finance.

What will happen on 19th jan?

Dow,Nasdag,hengseng are still in Negative zone.

Our team expect a gapdown opening and trade in the range of 8870 - 9080.

Post Study - Bank Nifty Future

The Bank Nifty jumbs up from the day low to the high,it jumps from one high to another high.The day low was 8843.00 and the day high was 8959.00.

When i look up the oscillator slow stochastics it was unable to lift up itself to the heights,but it was really stretched up too much for no reasons.of course one can not expect any reasons in this stock market.The trader must expect the unexpected that becomes true when the whole crowd was waiting for a further correction the market was went against their expection.I have recived so many desparate chat messages from many of my friends who gone short and did'nt cover the position when it came down thinking/expecting that it will fall further,and as you know there were no chance afterwards.

One must stand unique from the masses.The market is driven by so many sentiments of the traders.We must know some times, especially, situation like this we have to stand away from the mass psychology to predict the real trend and pulse of the market.

The above Graph shown is spot bank nifty and it is from yahoo.see the trend line it is broken.

What Next?

The channel is broken and we expect the bank nifty future may fall further for another 200-points from the current level.The results of many IT companies(like infosys) seems to be outstanding and that may pull up the nifty and that impact banknifty too.But the overall trend as per technicals is Down.

"Wish you all a Happy Pongal"

BANK NIFTY -Will it fall?

Today the trend of the bank nifty-future seems to be side ways as of now.just watch the Graph in NSE website in flash/java version from here-http://www.nseindia.com/marketinfo/charting/OnlineContractIndexChart.jsp?

During December-2009,this start zooming high from 8600.00 level and touched the peak of 9220.00 level.Now the over all trend is weak and it fell to 8900.00 level.

Will it fall back to 8600 level again?
Not sure off.But,I expect it may come down to atleast 8700.00 level from the current level and from there on again may go back/Bounce back to square one before Feb-2010.Let us wait and watch.

BANK NIFTY-FUTURE GAP UP OPENING

THE BANK NIFTY-FUTURE A GAP UP OPENING FAVOURS THE BULL'S.

What next?
Today the banknifty shows some unusual signs since its opening and we are just being a witness in this market as of now to confirm a firm trend ahead. once we found something we will intimate all our clients through yhaoo chat.Have patience.

I TOLD TO PLACE SELL ORDER IN 9239.00 TO MY CLIENTS.
IF IT IS SOLD I AM EXPECTING A MINOR FALL FROM THIS LEVEL TO 9200.00 LEVEL.

UP DATE 1.30pm

We covered the short at 9204.00 and took one more long.

Sold touble lots at 9222.00 and waiting to break the low to cover the short.

Bought 1 lot at 9165.00. around 2.45pm

No More position for today.

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Net Gain in today's trade's = 35+18+57 =110 points (-Brokerage)

BANK NIFTY

SELL Bank nifty future at spot level-9199.00 and
keep y.day High -9216.00 as SL.

Up Date at-9.33am

conservative trader can book profit in 9170.00level.

Aggressive trader can hold for another 30+ points

UP DATE AT 9.50AM

POSITION COVERED AT 9154.00

UP DATE AT 1.10pm

The bank nifty is trade in very much narrow zone.Almost it stand still between 9160-9180 range.NO Charm.

The charm will take place if it can cut down the day low 9152.25 or the high 9199.50.it is a kind of side ways ...

UP DATES

As i said earlier it gone upto 9192 and came to the low 9128

Around 2.30pm again sold it at 9188.00 and bought it in 9135.00(Due to Technical problem was unable to update during market.)

Total points Gained today - 45+53points=98 points ( - Brokerage)

BANK NIFTY - LIVE TIPS

Sell bank nifty future at this current level 9184.00 i expect it will come down to 9130.00 range.

keep the high 9216.00 as stop loss.

UP DATE

We covered the short at 9146.00.you can also cover or wait for 9130 level.

at 3.00pm

Again bought at 9140 and Touble sold it at 9193.00

Bought one lot at 9172.00.

NET POSITION NILL

POINTS GAINED TODAY-38 +53+21 = 112 POINTS ( -Brokerage)

BANK NIFTY- LIVE UP DATE

we were just waiting for the sell signals for intraday trading.Now we got it sell bank nifty around 9230.00 level. put stop loss order in 9250.00

UPDATE AT 11.35 AM
1.9230.00 short covered and bought two longs at 9204.00 and sold it just now AT 9236.00
gain 24 poins plus 32 points=56 points.Waiting for fresh short.

AT 1.05 PM
2. SOLD at 9244.00 and cover it just the dip of 9196.00. plus 48 points.
NO POSITIONS on hand.

The markets seeme to be a mixed trend, a tussle between BULLS Vs BEAR.

Waiting for anther sell if there is a chance above 9250.00 level with less volume.

Today net=104 points x 50=Rs5200.00 Minus Brokerage.

BANK NIFTY FUTURE

As i said earlier in my y.day post the bank nifty is in it up trend and preparing itself for a rally..

This is what i wrote-

'So,i advise the positional traders to avoid shorts.than if you are doubtfull about going long,it is better to keep quit and be a witness untill you gain some confidence.'

Now it shoot up to 9249.00 within no time from the level 9182.keep awake if it cross over 9260.00 with volume,one can go positional long.

intraday trader stay away...if there is a chance for you to sell make it with a stoploss of that moment high.

Intraday traders as usual be blank and flow with the current of the market sell and buy or buy and sell accordingly and take out your profit and go home with a peace of mind.No overnight worring about the next day/watching the midnight market of dowjones or nasdag is not really required.

BANK NIFTY FUTURE - POST STUDY

Today-5.1.2010, The bank nifty future were tussle witin a narrow gage between 9152 to 9206.The gap up opening gave confidence among bulls within a short while it fell down to 9152 from 9204 and caught in between the 9160 to 9174 range for a long while.it is quit rare to see such a choppiness in bank nifty future.

The spot index were in premium but the future index was somehow subressed itself its usual swing moments.i do not not why it is so...Certainly there was a certain jump up from 9165 to 9206 and unable to sustain itself in the higher level not even for 5 mins .it just came back down to square one and closed in that level.

Today the BankNifty shares traded was -16767524 and the turnover is 1070.10 crores.Anyhow today was not our day.My view for tomorrow is,it may open in a small gap down and raise to today high 9206.if traded with volume may lead another rally for the coming days.So,i advise the positional traders to avoid shorts.than if you are doubtfull about going long,it is better to keep quit and be a witness untill you gain some confidence.

Intraday traders as usual be blank and flow with the current of the market sell and buy or buy and sell accordingly and take out your profit and go home with a peace of mind.No overnight worring about the next day/watching the midnight market of dowjones or nasdag is not really required.