SYFXTF

SYFXTF

The currency pair continues to keep the market guessing as it moves swiftly from 83.10 to 83.35 and reverses back. Every time the pair comes closer to 83 there is good amount of buying interest. As observed in the previous blog, the market is refusing to believe this move as it has wedded to the logic that the currency pair will not be allowed to trade below 83.00...

SYFXTF

The past week saw another strong up move triggering the stops above 19350 and scaled a new ATH of 19523. As noted in the earlier Blogs, above 19350 the stops would have got triggered to stretch the move to 19523. A few observations from the weekly charts are: The index moved in a range of 289 points viz. between 19234 and 19523 The oscillators of different...

SYFXTF

Past week saw a steady decline from 82.47 to 81.85. As observed in the previous blog the declines are used as opportunity to hedge the Imports. A close below 82.00 favors further lower levels. The currency pair is at a crucial support. It appears that the pair seems to be in no mood to breach 81.70 on a closing basis. In such scenario we may expect a...

SYFXTF

The Bank Nifty moved in range of 819 points Viz. between 44212 & 43397. The weekly candle is a bearish one. The Bank Nifty once breached the crucial 43600 and reversed to close at 43970. The Index is trading in a new upward sloping channel with a pivot at 44650 and the top at 45580 and lower support at 43500. Only a weekly close below 43500 could lead to deeper...

SYFXTF

The past week saw a congestion and consolidation between 18650 and 18760 for most of the days and finally broke the barrier and close higher. The Index did make an attempt closer to the previous high. A close above 18720-740 zone is considered as positive as the next target for the move is pushed to 18970 and then 19170. A few observations from the weekly charts...

SYFXTF

Past week saw a narrow range of 82.40-82.69. As observed in the previous blog the declines are used as opportunity to hedge the Imports. Only a close below 82.00 favors further lower levels. It appears that the pair seems to be in no mood to breach 81.70 on a closing basis. In such scenario we may expect a consolidation between 81.95 and 82.70. There could be...

SYFXTF

The Bank Nifty moved in range of 542 points Viz. between 44459 & 43917. Though the weekly candle is a bearish one it is an inside candle. Going forward the 43600 would become a support for some time at least till we see a daily close below this level. The Index is trading in a new upward sloping channel with a pivot at 44520 and the top at 45150 and lower support...

SYFXTF

The past week move really managed to scale higher levels than the Fib projection of 18720 as observed in the previous blog. Final two sessions saw the index coming under selling pressure and finally closed at 18564 which is a tad higher than the previous week’s close. A few observations from the weekly charts are: The index moved in a range of 246 points viz....

SYFXTF

Past week saw a decline from its peak of 82.78 towards 82.23. As observed in the previous blog the declines are used as opportunity to hedge the Imports. Only a close below 81.70 favors further lower levels. At least for the moment, it appears that the pair seems to be in no mood to breach 81.70 on a closing basis. In such scenario we may expect a consolidation...

SYFXTF

The Bank Nifty moved in range of 792 points Viz. between 4498 & 43706. Though the weekly candle is a bearish one it made a higher highs and higher lows which is a positive signal for continuation of the current trend. Going forward the 43600 would become a support for some time at least till we see a daily close below this level. The Index is trading in a new...

SYFXTF

The past week saw choppy moves between 18464 and 18662 and finally closed midway at 18534. Last week’s Hammer seem to work perfectly and the Index is gliding towards the potential first target of 18600 and possibly the next Fib projection of 18720. A few observations from the weekly charts are: The index moved in a range of 198 points viz. between 18464 and...

SYFXTF

Past week saw a gradual decline from its peak of 82.85. Now that the market would be happy to see 82.20 as safer level to hedge the Imports. Only a close below 81.70 favors further lower levels. At least for the moment, it appears that the pair seems to be in no mood to breach 81.70 on a closing basis. In such scenario we may expect a consolidation between 82.10...

SYFXTF

The Bank Nifty moved in range of 705 points Viz. between 44095 & 43390. The weekly candle is a bullish and made a lower lows and lower highs almost a similar candle of the previous week. Going forward the 42700 would become a support for some time at least till we see a daily close below this level. The Index is trading in a new upward sloping channel with a pivot...

SYFXTF

The past week saw choppy moves between 18200 and 18400 and finally broke the barrier at 18470 to close near the high of 18500. Last week’s Hammer seem to work perfectly and the Index is gliding towards the potential first target of 18600 and possibly the next Fib projection of 18720. A few observations from the weekly charts are: The index moved in a range of...

SYFXTF

Past week saw a sharp spike towards 82.80. As noted in the previous blog the previous weekly candle shows signs of reversal and it proved to be right by the spike. Now that the market would be happy to see 82.20 as safer level to hedge the Imports. Only a close below 81.70 favors further lower levels. At least for the moment, it appears that the pair seems to be...

SYFXTF

The Bank Nifty moved in range of 705 points Viz. between 44151 & 43446. The weekly candle is a bullish and made a higher high and higher lows. Going forward the 42700 would become a support for some time at least till we see a daily close below this level. The Index is trading in a new upward sloping channel with a pivot at 44200 and the top at 45200 and lower...

SYFXTF

The index moved in a range of 398 points viz. between 18060 and 18458 The oscillators of different time frames are showing mixed signals The Index has clearly stayed above the long term trend line Monthly Option expiry and open interest to drive the direction of the market   Expected scenarios for the ensuing week The index has made primary base at 18060...

SYFXTF

Past week saw a narrow range of 81.70-82.23. as an exception the last weekly candle shows signs of reversal. Only a close below 81.70 favors further lower levels. At least for the moment, it appears that the Pair seems to be in no mood to breach 81.70 on a closing basis. In such scenario we may expect a consolidation between 81.80 and 82.40. There could be choppy...