MoneyNaad

The daily VIX chart shows the formation of Doji candles at the bottom and reversal. The daily RSI crossed the previous resistance level of 40. The MACD signal gave bullish crossover suggesting bullish move in VIX. So the daily chart shows the possibility of VIX moving towards 28 levels in the coming days. The weekly chart shows the formation of wedge and reversal from the bottom. VIX may move towards the upper wedge line @ 29-30. So VIX suggesting the bearish mood of the market and hence the high possibility of fall in Nifty-50 and Banknifty in the coming days/weeks. VIX Gann Box: The daily Gann Box shows a reversal from the mid-zone of time factor points. The next time factor date is Jul-21. So will VIX continue to move high till Jul-21 or it will reverse from angle point? Wait and watch. Using VIX to spot Intraday Reversal on Indices: VIX is a very useful indicator to spot reversal during day trade. If the price of an index moves up and @ resistance zone watch values of VIX. If VIX s

Banknifty opened Gap Down and continuously moved down. In the last 2 days, it almost falls more than 1200 points. We are able to capture this move from almost the top of 23000. The daily chart shows Banknifty took support at 30-EMA levels. MACD signal gave a bearish crossover signaling possibility of further fall in the coming days. RSI @ significant levels of 50. Break of 20900 could lead to a sharp fall towards 19700/19500. On the hourly chart, the MACD signal gave bearish crossover yesterday, and we saw a good fall in Banknifty. Gann Box: Weekly Gann Box shows Banknifty exactly changed the trend from the time factor zone. Also, the weekly opening was near the angle and it reversed after hitting angle and gave a good fall. It signaling a bearish trend for the coming weeks. On the daily Gann Box chart, we can see today Banknifty opened near angle, hit angle, and reversed sharply giving good down move. FNO Data: The future OI decreased by 7% signaling short covering with fall. The spot

PVR: CMP - 1047.10 Above 1070 Target 1140/1240/1300/1320 SL: 1005 NIITTECH: CMP - 1592.90 Above  1620 Targets are 1750/1770 SL: 1560 MCDOWELL-N: CMP - 636.10 It achieved all targets give in the last week. It looks to continue its bullish momentum. Above 643 Targets are 660/670 SL: 630 JINDALSTEL: CMP - 169.15 Above 171 Targets are 178/182/190 SL: 165 This is only for educational purposes. I am not advising any trades. 

Banknifty did all our targets below 22700 (22500 & 22350). Low made was 22320. The daily chart shows Banknifty is taking support @ the lower line of the wedge. So tomorrow will make or break for Banknifty. If it sustains below the wedge line then we may see further down move towards 22100/21800 levels. The daily RSI is @ a significant level of 60. So we can expect a good move on either side. VIX: The daily Gann Box yet to give us clear direction after crossing time factor. So I would keep a close watch for a further clue from VIX on any clear direction. FNO Data: The future OI increased by 11% with a decrease in price suggesting short build-up in Banknifty. Trade Plan: Above 22500 targets are 22630/22720/22800 Below 22330 targets are 22050/21800

Banknifty opened above 22700, our level for long entry and completed target of 22900. It was rangebound throughout the day between 22700 and 22900. Only in the last hour, it moved sharply towards 23000 levels (top made was 22998). Today it was a typical expiry day move. My bearish view will change only if it crosses yesterday's top. Till then I am bearish on banknifty. Trade Plan: Above 23000 targets are 23150/23300 Below 22700 targets are 22500/22350

Banknifty opened Gap up @ 22700 and then achieved all our bullish targets of 23900/23000. But the upmove was very choppy and looked like terminating pattern and was not easy to trade. So I did not take a trade on the upside. My observation was Banknifty good up (250-300 points) while Nifty was not at all moving up and was just 10-15 points up and VIX was increasing. That was a signal that there is a high probability of reversal. (I twitted this around 12.30 pm). Banknifty continued its upmove and VIX was not falling, so I was sure that reversal is on the card from the strong resistance zone of 23900-23000/50. In yesterday's post, I mentioned about daily RSI @ resistance. That was another reason I was expecting a high probability of fall after it moved higher levels to come to at least yesterday's close levels or below. I got down-trade from almost 23000 to 22700 (got out earlier as it was intraday and not much time left though I was expecting at least 22600. It gave a much lowe

Banknifty gave excellent trade today. It corrected on the downside in the initial hour and consolidated for the next 2 hours before it gave sharp upmove and completed our targets of 22450/22550 and almost done 22700 (top made today was 22674). Today it broke Jun-24 top of 22479. Now it would be interesting to watch whether today's top will be broken and upmove continues or we get a reversal from here.  The Daily chart shows RSI @ resistance. The upper line of the wedge is @ 23000-23050, which may act as very strong resistance. MACD is still not showing strong momentum. We need to be cautious at higher levels from here. Even the Weekly chart shows Banknifty @ strong resistance zone. FNO Data: The future OI increased by 9.7% with an increase in price suggesting a long buildup. Trade Plan: Above 22700 targets are 22900/23000 Below 22500 targets are 22350/22200/22000

Hindalco:(CMP - 154.35) Bullish Target 160 / SL@152 VOLTAS: (CMP - 566.50) Bullish Target 585/600  SL @ 552  TITAN:(CMP - 1014.20) Bullish Target 1050/1055  SL @ 992

Banknifty opened Gap up 400+ points and then there was not much of trading opportunity as it was rangebound throughout the day. There is still a possibility of upmove towards 22500/22700, but the daily chart showing a lack of momentum. It is interesting to observe that Banknifty did not break the top made on Jun-24 @ 22479 though Nifty-50 made a new top. So there is a divergence in Nifty and Banknifty. This is a sign of weakness unless Banknifty catches with Nifty. Jul-07 is the Gann date (minor time cycle). It will be interesting to watch whether it breaks Jun-24 high and reverse or continue upmove. The hourly chart shows consolidation after the gap up. Hence, the possibility of further upmove is strong. FNO Data: The future OI decreased by 8% with an increase in price. So normal analysis suggests Short covering. But it looks like long unwinding as we saw longs building last 2 days. So we need to be cautious at higher levels. Trade Plan: Above 22330 targets are 22450/22550/22700 Below

BATAINDIA: (CMP : 1298) Bullish The price at lower channel support. The daily RSI is also taking support @ 40 levels. Targets 1350/1400/1425 SL @1365.  ONGC:  (CMP : 82.40) Bullish Targets 90/91 Sl @78 DIVISLAB:  (CMP : 2190) Bearish Targets 2020/1850 SL @ 2290

In the update for Jul-02 post, I mentioned "The hourly chart gave a bullish MA crossover. Bullish crossover after bearish crossover suggests the rangebound possibility. The range maybe 21300-22300." In the update for Jul-03 post "The hourly chart shows the possibility of Banknifty coming towards moving averages (21750-21600) before it starts moving up." Banknifty exactly moved in a range for the last 2 days and came back to 30-EMA.  The daily chart shows Banknifty taking support near the lower line of the wedge. As long as this support is respected we can expect upside move towards 22500/22700/22900. The hourly chart shows Banknifty taking support @ 30-EMA and Gann Number of 21800. The hourly chart shows a wedge formation. Break of this wedge may give some good sharp moves on either side. VIX: The daily Gann Box shows we are near the time factor. We may see a trend change in VIX in the next few days. The hourly chart of VIX clearly shows the possibility of a spike i

Banknifty opened 150+ points gap up @ 22133, reached our 1st target of 22300. It made top @ 22344 but could not sustain and sharply came down to 21900 levels. After that, it was typical expiry day rangebound move between 21900 and 22250. The daily chart shows RSI holding 60 levels and the MACD line above the signal line. So further upmove is likely towards 22450-500 (recent top) and 22800-900 towards wedge upper line. But MACD histogram showing a lack of strong momentum in upmove. The hourly chart shows the possibility of Banknifty coming towards moving averages (21750-21600) before it starts moving up. FNO Data: There is not much change in future OI (1%). But the spot to future difference is now @ premium of 24 from the discount of 47, a change of 71 points, suggesting short term bullish sentiments( or at least change from bearish sentiment). Since this is a long monthly expiry month, the premium should be much higher (So it is not strong bullish sentiment). Trade Plan: Above 22050 ta

Banknifty gave breakout on the upside of the triangle pattern and made good upmove achieving our last target of 22000, making top @ 22061. The daily chart shows Banknifty is forming a wedge and prices are contracting. The upper line of the wedge is in the range of 22800-900. It would be also interesting to see whether Banknifty takes out Jun-24 top of 21479. The hourly chart gave a bullish MA crossover. Bullish crossover after bearish crossover suggests the rangebound possibility. The range maybe 21300-22300. Gann Box: The daily Gann Box shows resistance @ 22200-22300/22500. On the weekly chart, 22550/22800 is strong resistance. Opened on an angle on Monthly Gann Box. Suggesting the possibility of good upmove(already 700 points move today). Next resistance @22950. FNO Data: The future OI increased by  7.7% with an increase in price suggesting long buildup. Also, the spot to future discount reduced substantially from 156 to 47, suggesting bullish sentiment in the short term. Trade Plan:

Banknifty reversed exactly from the resistance zone of 21600-650 as I mentioned in the last post. It made top @ 21650 near hourly 40-SMA and reversed back making a low of 21212 and closing @21370. The daily chart shows Banknifty still taking support on the lower line of the channel and moving in a very narrow range for the last 4 days. Breaking 20900 may take it to 19700-19500 levels. The hourly chart shows triangle pattern formation with the possibility of move on either side after breaking out of the pattern. The bearish crossover suggests a strong possibility of down move even if it opens gap up. It needs to sustain above 21800 for further upmove. 21550-600 will act as resistance. FNO Data: Future OI increased by 9% with a decrease in price suggesting short build-up. The spot to future discount is increased to 156 from 124, suggesting a continuation of bearish sentiments. Trade Plan: Above 21600 targets are 21800/22000 Below 21300 targets are 21100/20900/20400

The observation on Monthly Banknifty chart: The 3 months from the top made in Dec-2019 to the low of Mar-2020 3 months from Mar-2020 ends in Jun-2020. Possible Trend change. The Mar low to Jun top monthly candle pattern looks like flat A-B-C correction of the wave from the top of Dec-2019. So the further down move is expected. The banknifty is now near the resistance of the monthly 70-EMA that provided strong support earlier. It may now provide strong resistance. The 14-period RSI on the monthly chart is @ res level of 40(40.73). All these points directing towards the high probability of down move towards Mar low or much lower in the coming months. The 2-Monthly chart shows bearish MA crossover (EMA-14 and SMA-20) The 3-Monthly chart also shows bearish crossover (9-EMA &14-SMA) 14-period RSI is @ Resistance level of 50 Gann Monthly Angle Chart: Reversal from Gann Angle. Gann Box: The Monthly Gann Box suggesting trend reversal possibility as per time factor (the vertical line of 0.2

Banknifty opened a 300 points gap down just below our level of 21300 and achieved our 1st bearish target of 21050 (Low made was 21026). After consolidating throughout the day in the range of 21100-21200, it moved sharply up in the last hour making top @ 21440. The daily chart shows Banknifty took support along the lower line of the channel. The possibility of upmove towards the upper trend line (Black) is possible in the coming days which lies around 22700. The hourly chart shows Banknifty @ resistance of 30-EMA. Upmove may face resistance @ 21600-650 and 21800. Only sustaining above 21800 opens a further possibility of upmove towards 22000/22250. VIX: The daily Gann Box shows the reversal from the angle. So further cool off in VIX is likely unless this angle is broken. FNO Data: The spot to future discount is still very high @ 123. A not very significant change in future OI(only 2.55% reduction)  Trend Plan: Above 21650 targets are 21800/22000 Below 21300 targets are 21100/21900