SYFXTF

SYFXTF

The pair finally broke the narrow range of 81.55-82.92 during last week. As expected possibilities of decent supply or lack of aggressive buying has resulted in the prices easing toward 82.30 which is another crucial level being the trend line support. Only a daily close below 82.30 would suggest further correction towards 81.90. Deeper corrections cannot be...

SYFXTF

Nifty attempted to hold on the gains made in the previous weeks. However, it could not gain higher levels and saw a steady sell-off in the last three sessions. The range is almost the same as that of the previous week. However, it would appear like a bearish engulfing candle on the weekly charts. With 17770-90 region holding for the third consecutive weeks, we may...

SYFXTF

The Bank Nifty managed a sharp recovery there by helping the main index recover. Bank Nifty as almost recovered previous week’s loss. We see the Index continuing to move in a channel with top at 44600 and lower end at 41800 with a pivot at 43100. This week is crucial to see whether the Bank Nifty holds crucial channel support at 41700-41800 zone for one more week....

SYFXTF

The pair moved in a range of 81.55-82.92 during last week. The top at 82.96 remains same for the past 2 weeks there by making this a Tweezer top. There are chances that there could be stronger supply coming in at close to 82.95 and that the fresh flows could make the pair drift towards 82.44 and then to 82.10 support. Only a daily close below this would suggest...

SYFXTF

Nifty saw a remarkable recovery snapping the three weeks of steep fall. As observed in the previous blog the reversal was sharper aided by short covering. Nifty index completed the eventful year with a decent 4.33% gain during the year. With 17777 holding for two consecutive weeks, we may see a consolidation during the ensuing week. A few observations from the...

SYFXTF

The pair moved in a range of 81.57-82.96 during last week. The pair continues to move towards the crucial resistance at 83.10-83.30 zone. Though the pair has maintained a higher lows the top at 83.96 remains same for the past 2 weeks there by making this a Tweezer top. There are chances that there could be stronger supply coming in at close to 82.95 and that the...

SYFXTF

The Bank Nifty managed to post a new ATH.of 44151 and saw a strong sell-off which made the index to loose about 1K points. There has been a varied price action within the components. We see the Index continuing to move in a channel with top at 44250 and lower end at 42200 with a pivot at 43100. The weekly candle coupled with the Oscillators paint a negative...

SYFXTF

Nifty has been on steady decline for the second week. Past week resulted in formation of another bearish candle. While the consolidation at every stage is a healthy sign, it appears that the Nifty is showing signs of weakness ahead of the year end. A few observations from the weekly charts are: Weekly charts suggest that The index moved around 440 points viz....

SYFXTF

The Bank Nifty managed to post a new ATH. Past week saw a range 500+ points of consolidation. The components displayed mixed action at the individual stocks level We see the Index continuing to move in a channel with top at 44250 and lower end at 42200 with a pivot at 43200. Till we see a close below 42600 the trend is considered as bullish. However, there seems...

SYFXTF

The pair moved in a range of 81.20-82.76 during last week. Break above 81.80 which held for three weeks triggered sudden spike to next resistance at 82.75. While the monthly candle is still in progress, it appears that the pair may make one more attempt of the trend line resistance at 83.30. Deeper corrections cannot be expected till we see a close below 81.20. We...

SYFXTF

Post month end expiry we have seen a steady decline in Nifty levels, though Bank Nifty maintained the upward bias. Past week formed an inside and bearish candle. While the consolidation at every stage is a healthy sign, it appears that the Nifty is showing signs of weakness ahead of the year end. A few observations from the weekly charts are: Weekly charts...

SYFXTF

The Bank Nifty managed to post a new ATH. Past week saw a range 750+ points of consolidation. The components displayed mixed action on individual stocks We see the Index continuing to move in a channel with top at 44200 and lower end at 42600. Till we see a close below 42600 the trend is considered as bullish. The Bank Nifty has achieved the first Fib projection...

SYFXTF

The pair moved in a range of 81.00-81.83 during last week. However, the Monthly candle confirms the trend reversal. We can safely assume that the top at 83.10-83.30 is expected to hold for the current month and possibly till the year end. The closer resistance at 81.80 itself is likely to see good amount of supply. We are witnessing demand driven by lower crude...

SYFXTF

First three days of the week saw intense action to achieve a new ATH. The Index made a new ATH of 18887 and started cooling off. The Option expiry and month cross-over saw profit booking. Consolidation at every stage is a healthy sign. A few observations from the weekly charts are: Weekly charts suggest that The index moved around 520 points viz. between...

SYFXTF

During first three days of the week the index was looking vulnerable and held captive below 18360. The final hour of option expiry saw a spectacular move to conquer 18500 zone. It actually attempted the downside support. A move after consolidation is a healthy sign. The NIFTY index is showing similar type of move as it happened in Bank Nifty when attempting 42k....

SYFXTF

After a sharp recovery in the previous week the pair was traded in a narrow range of 81.44-81.93 during last week. However, the Monthly candle confirms the trend reversal. We can safely assume that the top at 83.10-83.30 is expected to hold for the current month and possibly till the year end. We are witnessing demand driven by unhedged exposure getting covered....