Nifty IT and Nifty 💪

It was clearly visible in the pattern

Nifty's high in exactly first resistance zone. This is a level based market

Bank Nifty getting close to first support zone now

Nifty IT at day's high and Nifty Bank at day's low. Just one of those days where the conviction really played out 🙏

Good morning.

BAZAR MEIN MANGAL
Nifty has strong momentum right now
Only Bank Nifty is unable to participate
Fin Nifty expiry today, need to see Bank Nifty move
Possible that Nifty outperforms Bank Nifty again
Bank Nifty can attempt big rally tomorrow and day after
Nifty IT met the target of 200 DMA yesterday itself
Nifty IT may see some consolidation after big rally
For today, focus can be on Reliance, L&T, ITC, HUL, Maruti

INDICES: LEVELS TO WATCH
Nifty: 18,444 and 18,458
Nifty: 18,444 and 18,458 have been recent tops
Nifty Bank: 44,050 and 44,152
Nifty Bank: 44,050-44,152 has been high of last few days
Nifty Fin Services: 19400 and 19500
Nifty Fin Services: Expiry today, max OI at 19400 and 19500 Calls
Nifty IT: 28,871 and 29,041
Nifty IT: 28,871 is 200 DMA, 29,041 was last closing high

NIFTY OUTLOOK
Nifty remains very strong and is “Buy on dips”
Yesterday’s strategy was to buy on open and add on dip
Today’s strategy is to not buy at open but wait
If the dip doesn’t come, no point buying today
Buy zone 1: 18,250-18,300
Add zone: 18,200-18,250
Stop loss for all long trades: 18,150
No thoughts of shorting unless 18,350-18,400 is strongly rejected
Short on rejection of 18,350-18,400, stop loss of 18,459

BANK NIFTY OUTLOOK
Fin Nifty expiry today, more consolidation likely
Need to trade Bank Nifty on the edges today
The 2 edges: 44,171 and 43,717
Buy zone: 43,700-43,750, stop: 43,685
Sell zone: 44,000-44,050, stop: 44,152
Positional stop loss for longs at 43,450
Positional stop loss for shorts at 44,250

Facing tech issues.

Trying to resolve.

Apologies.

Really sorry for this. Facing issues at streaming end.

We are forced to cancel.

See you tomorrow

Good morning

BIG 2 DAYS
SGX Nifty indicating gap down on penultimate day
Buying on gap downs has worked all through May
Big nervousness in global markets on US debt ceiling
Domestic numbers continue to look very strong
Very strong margin performance by Ashok Leyland
Nifty IT and Nifty Bank both ended at day’s low yesterday
Nifty IT may have finished its swing rally of 200 DMA
Nifty Bank still has unfinished business of new high

SECOND TEST OF 20 DMA?
Nifty had defended first test of 20 DMA on Friday
Basic strategy is to buy with 20 DMA as stop loss
If 20 DMA breaks this time, correction can be big
Bank Nifty needs to hold 43,450 to continue uptrend (20 DMA)
Near-term texture of market depends on debt ceiling talks

NIFTY OUTLOOK
Nifty will need to negotiate fall in Nifty IT today
Nifty IT rallied to 200 DMA, fell from highs
Basic texture of “Buy on dips” will be tested today
First support level: 18,260 (From options base)
Big support level: 18,170 (20 DMA)
Buy only if Nifty stabilizes around 18,260 level
Stop loss for all intra-day longs at 18,170
Short trade will open if first recovery starts to fail

BANK NIFTY OUTLOOK
Bank Nifty has now seen 6 days of consolidation
Any market recovery has to be led by Bank Nifty
First support level for Index at 43,800 (Options base)
Most important support level: 43,450 (20 DMA)
Wait for stability between support 1 and support 2
Buy trade if Index stabilizes, stop loss: 43,450
Short trade will open if recovery starts to fail

Good morning

MARKET: THE DOUBLE DIP!
First dip was bought strongly yesterday
Second dip resulted in day’s low closing
Both “Buy on dips” and “Sell on rally” working
Current market is for those who can play edges

Bank Nifty: Market’s headache
Date High Fall from High
May 18 44079 -327 pts
May 19 44021 -52 pts
May 22 44027 -142 pts
May 23 44096 -141 pts
May 24 44010 -332 pts

MAY SERIES: BEST OF THE YEAR
Index This series
Nifty 2.1%
Nifty Midcap 5.3%
Nifty Auto 7%
Nifty IT 5.6%
Nifty Realty 4.3%
Nifty FMCG 4.2%
Nifty Bank 1.5%
Nifty PSU Bank -2%

NIFTY OUTLOOK
First support: 18,250-18,263
18,250 is options base and 18,263 yesterday’s low
Biggest support: 18,141-18,198
18,198 is 20 DMA and 18,141 is 20 DEMA

BANK NIFTY OUTLOOK
First support zone: 43,450-43,500
43,450 is recent low and 43,500 is 20 DEMA
Biggest support: 43,326 (20 DMA)
First resistance: 43,841-43,900 (Options based)
Biggest resistance: 44,000-44,100 (High of last 5 days)