SYFXTF

SYFXTF

The Bank Nifty moved in a range of 1417 Viz. between 39273 & 40690 which made a bullish candle and also made a higher high and higher lows. The Bank Nifty is continuing to move in the downward sloping channel with Bottom support at 38000 and top resistance at 40800 and the mean at 39560. The Index is close to the top of the channel top. Daily close above 40800...

SYFXTF

The past week saw a clear break-out from the range of 16930 & 17200. The final session of the week saw a gap-up open and a sharp move to a high of 17381. The Global risk perception continuing to show on and off glimpse of hope only to be countered by another wave of turmoil. It remains to be seen if this enthusiasm would keep the market afloat. A few observations...

SYFXTF

Past week saw an unexpected selling towards 82.05 which gave opportunity for the importers to hedge partly and the pair later closed at 82.31. The Monthly candle still shows a bearish candle. We need to see a daily close below 81.70 for further lower levels. This month being the year end it appears less likely that we may see lower levels. Most likely scenario...

SYFXTF

The Bank Nifty moved in a range of 1260 Viz. between 38941 & 40202 which made a bearish inside candle. The support at 38700 is crucial and a daily close below that would lead to more selling pressure. The Bank Nifty is continuing to move in the downward sloping channel with Bottom support at 38400 and top resistance at 41100 and the mean at 39750. The present...

SYFXTF

The past week saw a Yo-Yo move between 16930 & 17200. The Global risk perception continuing to show on and off glimpse of hope only to be countered by another wave of turmoil. For now, 16930 seem to provide some support while the most crucial support is at 16740-60 range. A few observations from the weekly charts are: Weekly charts suggest that The index...

SYFXTF

Past week saw a heavy buying interest as the support at 81.70 was holding for the second week. The Monthly candle still shows a bearish candle. We need to see a daily close below 81.70 for further lower levels. This month being the year end it appears less likely that we may see lower levels. Most likely scenario would be a consolidation between 81.70 and 83.10....

SYFXTF

The Bank Nifty moved in a range of 2077 points Viz. between 38613 & 40690 which made a bearish candle. In the process it attempted the lower end of the downward sloping channel trend support at 38600 levels and recovered marginally. The support at 39800 is crucial and a daily close below that would lead to more selling pressure. The Bank Nifty is continuing to...

SYFXTF

The past week saw yet another week of free fall. The Global risk perception continuing to paint gloomy picture, added to the sharp fall. With crucial support region of 17250-300 giving up easily it was golden week for the bears as they came heavily on every spike or gap up opening. A few observations from the weekly charts are: Weekly charts suggest that The...

SYFXTF

Past week saw a consolidation after a sharp fall in the previous week. The support at 81.70 is seen as crucial and a daily close below would trigger next round of selling and could drift towards the next support at 81.20. Most likely scenario would be a consolidation between 81.20 and 82.74. There could be choppy moves within this range. A close outside this range...

SYFXTF

The Bank Nifty moved in a range of 1330 points Viz. between 40341 & 41671 which made a bearish candle erasing most of the gains in the previous week. These kind of alternative bullish and bearish candles suggest periods of uncertainty and evolving risk scenarios. The support at 39800 is crucial and a daily close below that would lead to more selling pressure. The...

SYFXTF

The past week saw the Index hitting the wall around 17770 and reacted sharply. The Global risk perception added to the sharp fall. Though the Index made a higher high and higher low, there seems no clear direction with alternating sharp moves. Weekly charts suggest that The index moved in a range of 475 points viz. between 17324 and 17799 The oscillators of...

SYFXTF

The first four sessions of the past week were a kind of consolidation with every uptick getting sold. Friday’s move could have surprised many. Decisive break above 17450 triggered the sharp move. Though the Index made a lower low, there appears a gradual climate change and the bulls are returning back. A few observations from the weekly charts are: Weekly charts...

SYFXTF

The Bank Nifty moved in a range of 1645 points Viz. between 39745 & 41390 there by recovering all that was lost during the previous week and made a bullish candle. The scenario for now appears to be positively biased with two consecutive candles holding 39800 range. The Bank Nifty appears to have made a base at 39800 and is continuing to move in the downward...

SYFXTF

As noted in the previous blogs the supply improved closer to 83 mark and the pair saw an unexpected deeper correction after 4-5 weeks of continuous buying interest. Also that the target of 81.80 achieved and even the pair has seen even lower levels. Now the question is on what next and where from here. Since the [pair has closed below the critical 81.80 levels,...

SYFXTF

The past week witnessed a lightening attempt of 18004 and then it was one-way down move. Every spike got sold-off/ While the monthly Option expiry played a major role in the decline. the FOMC minutes added to the negative sentiments. The bulls lost their last opportunity to hold above 18K. It remains to be seen if the monthly lows of 17353 holds. A few...

SYFXTF

The Bank Nifty moved in a range of 1692 points Viz. between 39600 & 41292 and made a bearish candle. The scenario for now appears to be negative. The Bank Nifty appears to be having trouble in crossing even the 41k zone. Bank Nifty is continuing to move in the downward sloping channel with Bottom support at 38960 and top resistance at 41750 and the mean at 40050....

SYFXTF

For the fifth consecutive week the pair saw constant buying interest and posted a green candle. However, the size of the move is narrowing viz. between 82.56 & 83.02. From Oct 2022 we have seen this as the third attempt to cross 83 mark. The question is whether it will breach this time. While we may expect the supply to improve closer to 83 mark, we cannot rule...

SYFXTF

For the fourth consecutive week the pair saw constant buying interest and posted higher highs and higher lows. However, the size of the move is narrowing viz. between 82.49 & 82.99. From Oct 2022 we have seen this as the third attempt to cross 83 mark. The question is whether it will breach this time. While we may expect the supply to improve closer to 83 mark, we...