The Shocking Upmove...

The last thursday banknifty closed at 11388 and today it opened near 11470(Day low 440) and the trade was seen above 11520 and the SBI,ICICI,Axis and almost all banks shown a shocking high's and consistently shown strength and shot up to new high's. The Banknifty shown a day high of 11878 and the spot gone near 11900.The Sbi is nearly 150 points up.Icici bank neatly done its 1100 level. The today market surprised everone and i too happen to attend so many desperate calls from both the bulls &bears.The market up-move is a shallow rally or a choppy side ways ahead!!! .No one is authentic to say or predict this.Follow your own trading plan and trade as per your market expertise...do not fall into the trap of some one else.

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Today Market really shook every one head and we are not excluded.We tired our best to sell at every peak thinking that that was the maximum and kept a SL all were hits and the banknifty fooled till the closing and no symptoms of weakness untill its closing. The nifty was finding difficult to cross over 5740 level and finally crossed all it barriers and now try to move to 5850+ without much hurdle. The 'Ew' 3rd wave is in act now...as per that it may move towards 6340 levels...The last few session there were not much weakness the market witnessed/indicated. The nifty fall below 5630 only can give hope for the bears...

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The banknifty up move was really a thread to the bears. The bulls were also booked profits for their long so soon, as they were not expected this high nearly 400+ points in a single day. We gave a long call in Axis Bank and we asked our clients to book profit soon and once the profit was booked it went up by 20 points. The trend today was unexpected one and so much of speculation was seen. The Banks and the new policy around the world lifted the world markets and all are in green while writting this post.What are the causes for this unusual move is really unclear.if any one has got some grip kindly feel free to share with us.

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Caution:-

The market will go to what levels is not sure and there were so many rumours that spread among the traders from both sides(Bears&Bulls) and the small trader really are really need to take care or avoid trading for few days.The SL if you place anywhere it is very certain the market will hit it...The market is in it eratic phase now.Thats why the nifty was struck in 100 points over few months was able to claim up 100+ points in intraday..The Rally or Correction time the market used to be very ferocious like an reall bull or bear.

Banknifty May Fall!!

The banknifty today touched the day high of 11240 and the day low was 11074.The opening we sold near 11110 and covered the same near 11080 and we bought it again near 11155 and sold the same 50% near 199 and rest at 11236. During the closing we sold Banknifty at 11205 and thought of carring the short for 'STBT', but when it fall to 170 level we covered at 175 after covering it fell further down to 11140 level. The closing was weak in banknifty. The tomorrow banknifty may weaken further and any down move down to 10970 will bring fresh selling and it may reverse the on going rally in banknifty.

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Today was one of the great days for us , as far as the profit is concerned.We bought almost banknifty at the days low and sold the same at the days high.We gave a STBT call in Icici Bank yesterday at 1038 and covered the same at 1025 level today morning.We also gave sell call in Kotakbank at 850 and covered the same at 844.These calls we give free for our banknifty paid clients.

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The Nifty seems to find hurdle in 5620 level. It fall from there twice,the other day it went to 612 and fell,today too it fell from 620 level to 580. I think, if the nifty break down 560 level may bring fresh selling in nifty...one can go positional short in nifty with the sl of 5624.

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What Do We Expect Tomorrow?

The Banknifty went to the 11240 level and for no reason it fell to 140 level during the closing. A 100 points fall in short time duration was indicating the base is not so strong/ solid . We expect a weakness in banknifty tomorrow. The icici bank was weak today,if the same continue tomorrow the Bn will fall down.

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On the other hand the banks merger with Sbi news made it to zoom up about 50 points in no time and still the banknifty was failed to touch the new high (That would have been easily reachable). There are some hot talk about the banks D/E Ratio( Debt Ratio Analysis) among the taders we need to study it further.Now we have the understanding that,the banks may fall any time.

While writing this post the Asian market is in red and the US market we have to watch out tonight for tomorrow opening prediction.

I wish you to avoid fresh longs inNifty&Banknifty at the current level.

Banknifty Poised For a Up Move?

The Banknifty future were traded in side ways last two days thursday&friday respectively.Today it opened mild gap up at 11005. We initiated fresh longs at 11012 and placed a sell immdiately at 11114.00 we were expecting the upmove will halt at 11188 but it was not it went up to 11240+ and during the closing came down to 11200 level.

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We have cut short our longs near 11070 and we attmpt 4 sell near 11135level and covered the same at 11115 level without sl hit.During the closing we also sold near 11225 and covered the same in 11205 level.As far as the intraday is concerned we have done our part well and gained more than 80 points.We actually missed this intraday rally hence we bought at the days low but not sold at day's high considering our intraday comitments for our clients 50 points we booked the same after seeing the reasonable profits.

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The Banknifty made a double top near 11145 level but it is invalid now as it claim up to 200+ level. Now it is poised for a up move around 11350 levels.The icici went to 1040+ levels and Axis Bank went to 1400+ levels.The Sbi also seems to be strong so all these may put the banknifty in a bull mode.The Hdfc Shown weakness today.We gave a buy call (Free Call) in Axis Bank and all our clients were made 20+ points in the future segments.

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Now, What Do We Expect Tomorrow?

We have seen good consolidation today in banknifty and there were not much selling pressure due to profit booking also seen fresh buying so tomorrow it is again poised to move upto 11330 level and there it may halt and revrse.The icici bank now very strong and may further move up to 1100 and sbi to 3000 level.

Avoid fresh longs.