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Simply Intelligent Technical Analysis and Trading Strategies

Bank Nifty Futures – Short Term Overview December Expiry – Part 3

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Mondays trading session Bank nifty opened with global optimism and the day is seen driven mostly by intraday and short term buyers in the counter. Serious long term money is missing in the counter and lack of enthusiasm prevailed post the gap up in Bank Nifty Futures and also underperformed the broader index Nifty 50 thereby formation of a dull boring rotational trading rest of the day.

Bank Nifty Futures – Short Term Overview December Expiry – Part 2

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Last week trading session ,Bank Nifty futures attracted lot many short term sellers came to compete in the market. Trading behavior was in such a way that most of the traders we dealt with them are mechanical/emotional/price based short term sellers. Especially the emotional sellers shown post the RBI policy announcement are possibly the price based sellers initiated trades based on price breaking down below the previous week low or price testing 50 day moving average on the daily timeframe.

Bank Nifty Daily Sentiment at Extreme

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Bank Nifty since the start of Jan 2017 had done a 1000 points+ recovery and moved up without much rotations on the daily charts. Trading Sentiment remains positive for the weekly timeframe as well as daily timeframe. However trading sentiment on the daily timeframe is at the extreme which could bring short term corrections or volatile sideways action.

Bank Nifty Top Down Analysis for Jan 2017

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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.

Nifty Futures and Bank Nifty Futures October 2016 Outlook

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The RBI cut benchmark rates by 25 basis points (bps) on 4 October, bringing down the repo rate from 6.5% to 6.25% since then there is a significant underperformance in banknifty futures as compared with nifty futures. And this underperformance in banknifty futures is expected to continue in the upcoming trading sessions as every minor rallies in banknifty gets rejected at higher level and sellers stepping

BRExit and Stock Market Crash

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Nifty and Bank Nifty sentiment turned negative on the EOD charts on the event of BRExit poll announcement. And the global markets also strongly reacted for the BRExit poll outcome. USDINR Spot closed around 67.8264 and GBPINR lost almost 5%. Reality, Capital Good and Metals are the Top Sector losers with looses mounting to more than 3% each.

Nifty and Bank Nifty August Futures Mid Month Review

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Nifty and Bank Nifty August Futures Daily Sentiment turned positive on friday. India’s July WPI inflation figures came at -4.05% YoY Vs June WPI was -2.40%. Despite the Chinese Yuan Devaluation and weaker USDINR sentiment market rallied from the lows on positive IIP figures ( grew 3.8%) and possible rate cut sentiment due to negative inflation growth.

Nifty and Bank Nifty July Futures Outlook

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It is interesting to note that DII’s are relentlessly buying the equity market right from 12th June 2015 despite Greece Exit fears, Global Meltdown and Indian Market seems to be resilient to such macro events. Monday panic gap down in Nifty Index countered by late session rally on both monday and tuesday.

Nifty Bouncing Back from the Bottom Again?

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Nifty futures tested a low of 8001.1 on tuesday follow by a recovery very next day. The hourly timeframe in both nifty futures and bank nifty futures turned to buy mode in the second half of the yesterdays trading session. Currently the support zone comes around 8018 and 17436 respectively. Trend could reverse if the support zone breaks on the hourly charts on closing basis.

Nifty and Bank Nifty Futures Weekly Outlook

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Nifty and Bank Nifty futures is in downtrend in most of its timeframe. Last week Nifty closed above 5EMA(high) but the subsequent week closed below 5EMA(high) however bank nifty futures is not able to close above 5EMA(high) in the last week and still continuing its long term downtrend.