Chase Alpha | SEBI Registered IA

2024-03-15 06:20:48 Market View 15th Mar

Nifty had a good recovery after Liquidation stress Test by funds and strong participation from IT have led the leadership

The advance decline of broader market has improved over last session with many key stocks giving 10% recovery

Today is a key session to watch for weekly closing when Nifty is finding support in 21800-21900 zone and resistance at 21250-21300 zone

Range breakout on either side will give a fresh extension of upto 400 pts

BankNifty was weaker than Nifty in upmove participation when IT and broader markets was helping recover the markets

Key thing to watch is how banknifty reacts outside previous candle range of 46500 and 47200, which will lead the direction of markets

https://rb.gy/t2opch ክፈት / አስተያየት ይስጡ

2024-03-13 11:50:04 BANK NIFTY 47000 PE Having 1 Cr, PE writers are waiting to start puking ክፈት / አስተያየት ይስጡ

2024-03-13 11:44:41 80 rs to 150 47000 PE ክፈት / አስተያየት ይስጡ

2024-03-13 11:43:15 BANK NIFTY 47000 PE Having 1 Cr, PE writers are waiting to start puking ክፈት / አስተያየት ይስጡ

2024-03-13 10:53:45 Markets

Today is the first day of major reversal on Midcap and Small cap Index since a long time .

When Broader market is down, Benchmark index of Nifty and BankNifty is relatively Holding the Market

In the recent Bullish trend of market, whenever such fall has occured market has reversed back to usual Bullish Trend on next day onwards

Then What should be the Trade Plan ??
Today is first day of Fall and we wait for followup downmove on next day to evaluate fresh selling

If at all market bounce, we wait to sell at higher levels as risk reward for shorting at lower levels is relatively risky.

Considering the primary trend on Nifty when market bounces, there is a chance of holding Today's low to take Bullish Trends on heavyweight as well ክፈት / አስተያየት ይስጡ

2024-03-13 06:13:47 Market View 13th Mar
US CPI Data is missing the Trigger for Range breakout in index

Nifty Support at 22050-22200 zone with resistance above 22500

The advance decline of stocks can see improvement on positive note and market will remain stock specific for the day

Nifty Straddle of 22400 @ 196

BankNifty had a very volatile session in the morning testing either side of the range with 800 pt upmove and 1000 pt downmove in 10 mins.

Index can remain rangebound in 400-600 pt range for the day

Support at 46900 and resistance at 47500 in Banknifty

ATM straddle of 47300 at 440

https://rb.gy/vcv685 ክፈት / አስተያየት ይስጡ

2024-03-12 09:05:42 Not a normal trading day, and not a normal trading markets. This kind of markets are good reminder that no matter what you do markets are supreme. 4700 to 47800 and then 47800 to 46800 in a matter of mins. ክፈት / አስተያየት ይስጡ

2024-03-12 06:07:38 Market View 12th Mar

Nifty had lowest session closing of past 6 sessions after hitting highest weekly closing last week

After weak closing, Nifty Support at 22050-22200 zone with resistance above 22500

US markets have CPI data footprint upcoming which will increase the volatility in markets.

The advance decline has been poor over past many sessions in midcap and small caps and contribution from heavyweights also slided the benchmark index negatively in last session

BankNifty is at key pivot zone to drive the direction of market for 1000 pt move on either side

Support at 46000 on break of 46900 and resistance at 47800 in Banknifty

ATM straddle of 47300 at 565

Stay light with your FNO positions and let the key event pass through. CPI Data can extend the range on either side to current slow markets.

https://rb.gy/n130go ክፈት / አስተያየት ይስጡ

2024-03-11 06:38:49 Market View 11th Mar
Nifty had highest weekly closing with Support at 22350-22400 zone

Nifty continues to face resistance in the zone of 22600-22750

IT index has given support by falling less, when Banknifty had paused to participate in upmove.

Banknifty had filled the Gap of HdfcBank Results over last week.

Index has Bullish strength for 48600 with support at 47700 below which it can slide for next support at 47300

Nasdaq made a new High on Thursday when Dow resisted at Gap Resistance

Markets can be erratic at the morning half due to our strong weekly closing and global negative closing.

Stay stock specific at the moment to find clear direction in Trade and wait for pullbacks instead of chasing breakouts.

https://rb.gy/pq7b6c ክፈት / አስተያየት ይስጡ

2024-03-08 06:26:56 "Warm wishes on the auspicious occasion of Maha Shivratri!

May the divine blessings of Lord Shiva and Goddess Parvati guide you towards the path of righteousness and prosperity.

"Om Namah Shivaya" Embrace the journey with their grace. #HarHarMahadevॐ #BlessedShivratri" ክፈት / አስተያየት ይስጡ