With exact levels

Please remember its important to respect levels and book profit also in this market. No trade will work in one way.

Live.

Sell zone for Bank Nifty was 41200-41350 with approach of "Sell on rally". Today's high was 41293 and BNF down over 400 points from there. Magic of levels!!!!

Good mornning

THE BANK NIFTY CRISIS
Bank Nifty has now fallen 8% from highs
SBI is now down 17% from high, below 200 DMA
ICICI down 11% from highs, almost at 200 DMA
Nifty IT up 5% this month, up 20% from lows
Big question: How much more will Bank Nifty drag?

GLOBAL CUES: INDIA IMPACT
Big move happening in Bitcoin, almost at $25k
Last US bull run in equities was preceded by Bitcoin
Nasdaq’s behaviour today will be very crucial
If Nasdaq defends 20 DEMA, US mkt can resume rally
Indian IT stocks are now in a well defined “Buy on dips” mode
Nasdaq and Bitcoin resilient to recent surge in Bond yields

NIFTY OUTLOOK
Nifty tried to defend 20 DEMA in morning
Once 20 DEMA was gone, Nifty broke down
Alert: 20 DEMA at 17,888 and 20 DMA at 17,838
Only Nifty IT is preventing complete breakdown of Nifty
Next level to watch: 200 DEMA of 17,643
Market’s overall texture is now “Sell on rally”

BANK NIFTY OUTLOOK
Bank Nifty’s close was very bearish
Bank Nifty’s close just above Feb 2 close
40,300-40,500 last big support zone for Bank Nifty
Bank Nifty’s 200 DEMA at 40,100
Big worry is if Bank Nifty falls to 200 DMA of 39,100
Level based trading worked in Bank Nifty yesterday
Today, level trading will not work on Bank Nifty
Sell Bank Nifty on first sign of weakness
Keep stop loss of 100-150 points
Buying on Bank Nifty only above 41,500

Watch my special analysis on is PCR being managed?

All you need is one good trade. After that you should be sorted for the day.

No need to keep looking for more and more

Live.

Live.

Good morning

END OF A NIGHTMARISH SERIES
Feb series has been extremely volatile
Nifty down 300 points but feels worse
Nifty Next 50 down over 3000 points (7%)
Nifty and Bank Nifty set to test the 200 DMA

GLOBAL CUES: INDIA IMPACT
Nasdaq failed to cross 20 DEMA, closed near low
Nifty IT has a cushion of 100 points above 20 DEMA
Nifty IT runs the risk of making a double top ((Show 6 month chart))
US 10-year bond yield chart very ominous

NIFTY OUTLOOK
Simple strategy today: Sell on gap up
Add more shorts on first red bar after gap up
Keep stop loss of first hour high for intra-day shorts
For positional shorts, stop loss at 17,800
No thoughts of buying till stability emerges
Trend is very weak, 200 DMA of 17,355 possible

BANK NIFTY OUTLOOK
Bank Nifty had extremely bearish close
((Show Bank Nifty 6 month chart))
First close below 40,000 since Oct 2022
Bank Nifty is now headed towards 200 DMA of 39,100
Selling on failure of rally remains the best strategy
Stop loss of first hour high for intra-day shorts
Stop loss of 40,500 for positional shorts

First big trade has already played out on Nifty and Bank Nifty. Now one can book or trail depending on one's appetite

Good morning