January 23, 2020

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.6% in negative at 12180
- AD was 10:7

- VIX down 3%

- lot of strength seen in mid caps and small caps
- correction is absent in these indices

- overall bias is bullish as long as index holds above 12000

Weird letter from HR linking car condition to financial condition

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January 22, 2020

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.5% in negative at 12107
- AD was 7:10 (not bad)

- option writing support 12000 resistance 12500
- resistance may shift down to 12200

January 21, 2020

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.4% in negative at 12169
- AD was 4:5 (not bad)

- option writing support 12000 resistance 12300 (weekly expiry)
- option writing support 12000 resistance 12500 (monthly expiry)

For parents... marks don't matter

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January 20, 2020

HDFCBANK ...very good results yet the stock

RELIANCE ...very good results yet the stock

BANKNIFTY H&S

- neckline is at 31000

Market outlook

Daily charts:
- trend is up on daily charts
- today, markets opened gapup and closed in the negative
- close was 1% down around 12224
- AD was 1:2

- VIX up 9%

- a huge bearish engulfing bar was formed today
- gap up was on back of very good results of REIANCE and HDFCBANK (both index heavyweights)
- this is a classic case of selling on good news

- on hourly charts, nifty is in sell mode

- 12300 was a very good support... it just broke easily
- huge call writing at 12300 and 12400 CE
- a top is in place?

- important support 12000

- weakest index this rally was BANKNIFTY... still no buy signal and probable H&S being formed

January 18, 2020

NIFTY PE chart


NIFTY weekly charts

- trend is up
- nifty facing trendline resistance
- support 12000

BANKNIFTY technicals

- trend is down
- BNF is underperforming the nifty
- support 31000

- possible H&S formation
- right shoulder being formed
- neckline around 31000
- confirmation will be break of neckline

January 17, 2020

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed flat at 12352
- AD was flat

- overall this was a week with a very small trading range
- high low range was 110 points

January 16, 2020

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed flat at 12356
- AD was 11:7

- option writing support 12000 resistance 12500 (monthly expiry)

January 15, 2020

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed flat at 12343
- AD was 11:7
- midcaps/ small caps showed strength/ buying

- option writing support 12300

January 14, 2020

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.3% in positive at 12362
- AD was 11:7

- option writing support 12300
- put writing has been very aggressive this weekly series

January 13, 2020

CNX 500 breakout


Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.6% in positive at 12329
- AD was 2:1

- swing low support 12000

- option writing support 12200

- note current area is a potential whipsaw zone

SBI NIFTY ETF has a AUM of a phenomenal 65000 crores

Some very interesting info... SBI NIFTY ETF has an AUM of a stupendous 65000 crores. In comparison, HDFC, ICICI and Kotak Nifty ETF funds have a total AUM under 3000 crores. So how did SBI NiFTY ETF get so much money? The answer is Employees Provident Fund Organisation (EPFO) which is investing almost 2500 crores per month.




January 11, 2020

BANKNIFTY technicals

- trend is up on weekly charts
- support 31000