Let us analyse BankNifty on 15th Dec 2016. Bank Nifty opened with a huge gap down of around 18143 due to hawkish stance of the Fed regarding the rate hike. The Fed increased the rate hike by 0.25 % which was quite expected by the market. However, for the year 2017 the Fed projected a […]

Let us analyse BankNifty on 14th Dec 2016. Bank Nifty opened on a negative bias and continued so throughout the day trading within a small range, ahead of the Fed rate policy. Traders maintained caution before the Fed rate hike and hence not much momentum was felt in the market. Even the low CPI data […]

Let us analyse BankNifty on 13th Dec 2016. Bank Nifty opened negatively due to negative Asian markets and remained in the lower levels till the European markets were open in the late afternoon. Bank Nifty formed strong support near 18330. However, the strong opening of the European market helped the Bank Nifty to rally around […]

Let us analyse BankNifty on 12th Dec 2016. Bank Nifty opened gap down after a 2 day rally last week. The main reason could be the nervousness of the market regarding the Fed rate meeting to be held on 14th Dec. Also, crude oil rallied around 4% after the Non Opec members agreed for a […]

Let us analyse BankNifty on 9th Dec 2016. Bank Nifty opened near 18600, however it was dragged down till it found strong support around 18450. After that, it continued to form higher top and higher bottom throughout the day. It found resistance at around 18740 towards the end of the day. Today was clearly a […]