Banknifty - A complete reversal from Bearish to Bullish

On friday we have just covered the positional shorts 9316 Levels and afterwards it fell down to 9235 level.We have noticed the formation of double bottom on the same day and was expecting a intraday bounce and bought and sold fresh long on the same day considering the global -ive facts.But this morning our market reacted exreamely bullish based on the world cue's impact.Infact our market was over reacted... and that caused a "GAP UP".

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Now, There is a Gap Left Over(9293 to 9395 Level) and that has to be filled on the coming sessions without which the imbalance will be there or the banknifty and nifty futures will behave aggressively. There will be lot of eratic movements up and downs.At the same time market will struggle to claim up consistantly to complete the rally.The Gap filling may happen even in tomorrow session.Let see...Once there is a down movements> just cover all your shorts or Go fresh positional Long from 9300 to 9400 level.That will be ideal and wise now.

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See the above graph and double bottom formation.Also see the Blue stright line(right side) that is the Gap i am talking about.

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Back of the mind, i have a question.

Is this up trend is real? or The Global Negativity is just alright in over night ? Everthing seems to be an illusion as if we see so many colors pattern through a kaleidoscope.ofcourse the market itself a kaleidoscopical for the active traders eye.

The Judgement Day!!

The Judgement Day!!

As the title is very opt for the present situation...The Relince & RNRL case and the 26/11 Kasap case judgements...No, i am talking about in terms of market that too specifically about the Banknifty Future.

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About a week ago..i wrote in this same site the banknifty will not move up untill it touch the 9200 to 9300 levels.today it just happened and do not know still how deep it fall as the global situations are worsening day by day...

.Will post the rest after the today market.
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Gap Down

The market opened in a deep gap down which is unexpected by many including the professional traders.The market closed yesterday at 9620.00 and opened today in 9520.00(100points down)We were holding short and informed all our clients the Banknifty future will touch 9460.00 today and it took support at 9461.00 in the opening and went upto 9540 level and came down to 9445 levels. now...it may break this level anytime as the Global scenario is still negative and seems to be lot of -ive inflows are coming in from the world corner.

In the afternoon time the market gained some strength and i was instructing all our clients there is a gap formed today from 9619 t0 9449 This has to be filled than only the market may seattle down or it will behave aggresive up and down moves..we had many intraday trades around 6 chances..But back of the mind we also felt "The market any time move high to the 9620 Level to fill the Gap and exactly it happened during the end what a high jump to attain this level and filled the gap.Infact it rose beyond that level and gone to 9628 level.

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What will be the coming sessions? Up or Down?

As i see the MACD today which is unusual and hence the market was in oversold state it bounced upto 9628 levels and that will not change the trend..When i saw the ATP it was only @9511.00 level when market was in 9620.00level.So,The correction is not yet complete.i also got some information about nifty,put it here for your view's:-
4800 put oi increase 29%,4900 put 88% .players thinking
Markets not going below 4800-4900
5100 call oi increase 92% .5000 call increase 93%.
will we fall below it again?

.Anyway,i would like to share one of my clients feedback here:-

hi sir,
Second time in 1 month gap down we are holding short excellent performance.i am excited i will book profit in bank nifty.

He also attached a quote>
"People are afraid, very much afraid of those who know themselves. They have a certain power, a certain aura and a certain magnetism, a charisma that can take out alive, young people from the traditional imprisonment.... The enlightened man cannot be enslaved - that is the difficulty - and he cannot be imprisoned.... Every genius who has known something of the inner is bound to be a little difficult to be absorbed; he is going to be an upsetting force. The masses dont want to be disturbed, even though they may be in misery; they are in misery, but they are accustomed to the misery. And anybody who is not miserable looks like a stranger. The enlightened man is the greatest stranger in the world; he does not seem to belong to anybody. No organization confines him, no community, no society, no nation ". - Osho