What a move in PSU Banks!!!!!!!!!!!!!!!!!

Youtube live

BSE CEO on the freak trade. So watch.

GM

MARKET: WHAT CHANGED LAST WEEK?
Delivey volume of HDFC Bank
Date Delivery (Rs cr)
Sep 20 5700
Sep 21 3300
Sep 22 3200
3 days total Rs 12,200 cr

MARKET: WHAT CHANGED LAST WEEK?
US Fed signalled that rates will be higher for longer
Global markets went through a valuation reset
US Bond yields surged to multi year highs
Dollar Index has surged to nearly 106 levels
Indian market fell on Friday despite global bond inclusion

NIFTY: WHAT NEXT?
Nifty has given up exact 50% of September rally
Next level to watch: 66% retracement around 19,550
50 DEMA for Nifty also placed around 19,550
Market currently has leadership problem in large caps
Except TCS, Infosys, all large stocks in a bearish phase
HDFC Bank fell 8% last week, dragged Nifty by 350 points
Reliance fell 4% last week, dragged Nifty by 170 points
Nifty’s texture will remain weak till 20 DEMA is reclaimed
Alert: Current 20 DEMA at 19,776
First support: 19,611 (Based on charts)
Bigger support: 19,550 (50 DEMA)

Both Nifty and Bank Nifty defended support 1. Exact same levels.

Just a reminder: I will be closing this channel at the end of October. Nearly 50% of you have moved to Instagram. Others can do so. I would love to have all of you connected. But pls realise my limitation. It’s becoming tough to manage so many platforms. Thanks.

GM