subhagghosh

subhagghosh

#banknifty Last 70 trading hours have moved 3499 points. FII:- Sell 39.39 Cr& DII 126.61 Cr buy today on 9th Oct'2020. The India VIX (volatility index) Up by 11% this week. Technically, all indicators, PA across all time frame is in plus, which is a sign of caution. The last 2 days I have been posting short, didn't work never did the short got triggered as all...

subhagghosh

Distribution Happens in 23,250 - 23,450 Zone and trader Careful Below 23,065. Last 2 weeks, 3046 point movement from 20,404 to 23,450, too fast movement without consolidation. I have got a sell signal on my trend indicator on 4-hour TF. Decision Zone is 23,394 - 23,451, below this zone will short and above will buy. Targets on lower size:- 23,063 / 22,607 /...

subhagghosh

#banknifty OI down by 1.39% and price up by +0.49 %, which indicates a neutral setup. Long positions are trapped in 22,750 -23,000 zone, any gap up will get sold off, and selling pressure will intensify below 22,700. Bold Recommendation:- Short market at higher levels with SL of 23,388. FII bought 1093.81 Cr & DII sold 1129 Cr, DII is selling for the last four...

subhagghosh Updated 

#banknifty OI down by -11.44% and price up by +0.56 %, which indicates short-covering. FII bought 236.71 Cr & DII sold 471.56 Cr, DII is selling for the last two days and FII buying intensity has reduced, which indicates capped upside. FII & PRO:- Index Long DII & Retail:- Index Short Overall neutral. Decision Zone 22,359- 22,506 below is bearish, and above is...

subhagghosh

#banknifty OI down by +9.15% and price up by +2.16 %, which indicates long build-up. Bold Recommendation:- Short market at higher levels with SL of 23,388. FII bought 1101.76 Cr & DII sold 934.84 Cr, DII is selling for the last three days and FII buying intensity increased once again. Data Analysis:- FII unwinded long position on the index and DII & PRO shorted...

subhagghosh

#banknifty OI up by +2.90% and price up by 3.70 %, which indicates a neutral position. FII bought 1632.25 Cr & DII bought 259.46 Cr, FII has turned into buyers after a long time. FII has created fresh long position & covered up the short positions, DII has created fresh short, Retail & PRO have unwinded the long and created fresh shorts. BN Range <22,015 -...

subhagghosh Updated 

#banknifty OI up by +0.19% and price up by 16.77 %, which indicates short positions were added today. FII sold 712.48 Cr & DII bought 409.47 Cr, FII selling pressure has reduced today. 10.00 AM Low was 21,128.50 and the high of 11.00 AM was 21,472.85,344 point rally is purely due to short covering. Again last 1 hour data is weak, only short covering and long...

subhagghosh

#banknifty OI up by +4.07% and price down by -1.17 %, which indicates short positions were added today. FII sold 1,456.66 Cr & DII bought 576.50 Cr, FII selling pressure has intensified, which is not at looking good at all. Don't read much into the rally into the last 30 mins, as 21,320 to 21,468 from 3:00 PM to 3:30 PM, it was pure short covering. Decision...

subhagghosh Updated 

#banknifty OI up by +3.30% and price up by 3.26 %, which indicates rise was used to do close the short positions and not enough of a long position is a matter of concern. When there is only 542 Cr FII Buying & 27 Cr DII selling, which shows rally was mainly due to short getting covered and significant fresh long buildups missing. Don't read much into the rally...

subhagghosh Updated 

#banknifty view for next week 28th Sep - 1st Oct On 22nd May, BN started the move from 17,105 and took 101 days to reach 25,232 on 31st Aug, an up move of 8115 points. From 31st Aug to 24th Sep, BN corrected by 4827 points (corrected more than 61.8%) in a matter of 25 days. Banknifty has broken the uptrend channel around 21,750 levels and also broke the last...

subhagghosh

I see blood everywhere, levels on downside:- 19,507-19,598 & 18,066 - 17,949 Last two hours was heavy long unwinding, which shows much larger pain ahead. Decision Zone:- 20,674 - 20,732 Trend will remain bearish until be crossed 21,750. Medium term positional trades SL got Tiggred in the range of 20,674 to 20,732 and which opened the flood gate on...

subhagghosh

#banknifty OI down by -2.14% and price down up 0.19 %, which indicates fall was used to do close the short positions. Cracks are visible in the index, if we don't get a bounce in the next couple of days, we might slip big very fast. Question IS:-" Did we take support from the strong support zone? ", it will only get answered in the next few days. Don't read...

subhagghosh Updated 

#banknfity OI up by 19.22% and price down up -3.02 %, which indicates a huge short build Up. I posted on Saturday: "There is a structural breakdown in the chart, which I was highlighting continuously until price move back to the structure, more pain is ahead" This structure further deteriorated. The uptrend channel which started on 16th June (19,507), the price...

subhagghosh

#banknifty OI up by 9.78% and price down up -1.07 %, which indicates further short build Up. Cracks are visible in the index, if we don't get a bounce in the next couple of days, we might slip big very fast. Question IS:-" Did we take support from the strong support zone? ", it will only get answered in the next few days. Don't read much into the last 45 mins...

subhagghosh

#banknfity OI up by 10.68% and price down up +0.48%, which indicates a neutral setup. The last 1 hour data is not good, the 22,600 -22,650 zone was used for long unwinding, which suggests a clear supply zone here. The uptrend channel which started on 16th June (19,507), the price got closed the second day in a row inside the channel and we made lower low and...

subhagghosh

#banknfity OI up by 4.97% and price down up +0.44%, which indicates a neutral setup. BN closed exactly on our decision point of 22,465. People will be interested to know, what happened from 2:30 PM to 3:30 PM, huge spike on the upside, again this was short covering in the expected line. The uptrend channel which started on 16th June (19,507), the price is...

subhagghosh

#banknfity OI up by 24.03% and price down by -1.68%, which indicates shorts were build up today in the index. Contra to popular move in the last few days, the last 30 min didn't show short covering but long unwinding, which is bad for the market. The uptrend channel which started on 16th June (19,507), first-time for the last 3 months, we have given a closed...

subhagghosh

#banknifty Weekly view:- #banknifty is in the rising channel and we are constantly taking support from lover end of channel 22,050 - 22,200. Spending time at the lower end of the channel for the last 3 days is not a very sign for bulls. If the previous swing low of 21,886 is broken, then the last swing low of 21,403 will be challenged followed by 21,000...