“The names may change, but the psychology remains the same.” By Elliott Wave International Have you ever compared chart patterns from history with financial markets today? Elliott Wave International can show you the unique value of doing exactly that. Why? Because patterns on market charts repeat themselves. It happens across the globe, regardless of time […]
Nifty and Bank Nifty December Series Sentiment Analysis
Complete turnaround on the weekly sentiment of Nifty and Bank Nifty future weekly charts. Market holds the positive sentiment despite weekness in the asian market. FII are relentless sellers in the November month and DII are supporting the market with their relentless buying. The Reserve Bank of India (RBI) fifth bi-monthly monetary policy will be declared on Tuesday. Street expectation is that current RBI monetary policy is likely to be a non event.
Is Bank Nifty Signalling a Short Term Top?
The short term Market Sentiment(Index Futures) is ultra bullish and retail players are quite aggressive in nature in playing the index longs. Bank Nifty shows extreme sentiment and possibly could signal a short term top. And the overall volatility in the market is down and remains below sub 14 levels indicates naked players are in neutral state not much aggressive on naked longs/shorts. Banking stocks/index might show increased volatility as upcoming economic event RBI’s monetary policy review on December 2.