Top Down Approach provides us the macro visual perspective of the market participation. We will start with monthly charts to understand the long term participation, weekly charts to understand the intermediate term players and the daily charts to understand how the shorter timeframe players are behaving.
Bank Nifty Monthly Charts
On the broader range Bank Nifty Futures is in sideways mode between 18000-20500 for the last 7 months which indicates that clearly the market is not driven by the longer term players. Long term players dominance is less reflected in the last 7 months.
Bank Nifty Weekly Charts
Weekly charts shows how the intermediate players are positioned. On the weekly charts Bank Nifty is clearly trending down and also out of the balance zone which indicates the dominance of intermediate sellers in control and they are quite aggressive post Nov 8 demonetization.
Bank Nifty Daily Charts
On the daily charts too many consolidation is witnessed since the start of the 2016. More the consolidation zone indicates the we are dealing with the aged trend. And also the recent look below the balance and fail indicates that shorter term support zone comes around 17950 and the price is expected to rotate in the balance zone 17950 – 18800 zone. If Any breakdown below 17950 indicates shorter timeframe down trend to restore again.
Related Readings and Observations
Bank Nifty with Extreme Positive Sentiment Bank Nifty is currently trading at the swing extreme with 10-day ADX holding above 40 levels which indicates extreme positive sentiment with mean reversion odds If ADX value likely to […]
Top-Down Analysis – Nifty Futures Trade Preparation for Mid October 2019 Last two weeks the major theme in the markets is Crazy volatile swings. Crazy intraday swings in the market would make trading complex for most of the traders during those days. 
What could Possibly Go wrong with Bank Nifty? – Part 2 Here is the historical PE-Ratio of Bank Nifty. This time there is a hockey stick growth in the banking index which is up by 10.42% during the month of March 2019 alone. In fact, touched […]
Nifty and Bank Nifty Trading at the Upper Extreme Nifty Futures and Bank Nifty Futures are trading in a sideways compression mode for quite some time in Jan 2019 series. Both Nifty Futures and Bank Nifty Futures are trading very close to […]
Extreme Positive Sentiment in Bank Nifty Futures Bank Nifty Futures tested an intraday high of 27425. Trading sentiment was getting into extreme which possibly indicates overbought levels.![[Webinar] : How to Create Multi Timeframe Trading Strategies](https://i1.wp.com/www.marketcalls.in/wp-content/uploads/2018/11/Multi-timeframe-trading-strategies.png?resize=150%2C150&ssl=1)
[Webinar] : How to Create Multi Timeframe Trading Strategies In this webinar, you will be learning how to create How to Create Multi Timeframe Trading Strategy. And insights on how multi timeframe apporach could help you to take better trading decisions.
A professional. Excellent analysis.
Dear Rajandran Sir,
Im big fan of your technical analysis, I spent most of my trading hours in marketcalls website.. which helps us to track Nifty, Bank Nifty and stocks on real time basis with excellent indicators like Lintra.
Mostly i trade in bank nifty options,So I request you to give lintra AFL code if possible, so that i can back test.. make my trading decisions to suit different market conditions.