10 Apr - The body of candles are getting shorter, end of bulls ?
BankNifty Analysis - Stance Bullish ⬆️
Banknifty was looking strong right from the start. Unlike Nifty, BN did not have a huge gap up, but the rising trend was clear and strong. The reason it was strong was because the moves were not wild swings but slow & steady.
If you look at the 63mts candlesticks, you can notice the body becoming smaller. Usually, it is a sign of tiredness by the bulls as we are in an uptrend. We will get to know that on Friday, we wish to maintain our bullish stance till then.
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Algo Trading
Our Algos ended the day with a gain of Rs33351. I did not wait out the entire session and closed out the trades in advance expecting a wild move due to the US CPI news event.
Banknifty was looking strong right from the start. Unlike Nifty, BN did not have a huge gap up, but the rising trend was clear and strong. The reason it was strong was because the moves were not wild swings but slow & steady.
If you look at the 63mts candlesticks, you can notice the body becoming smaller. Usually, it is a sign of tiredness by the bulls as we are in an uptrend. We will get to know that on Friday, we wish to maintain our bullish stance till then.
---
Algo Trading
Our Algos ended the day with a gain of Rs33351. I did not wait out the entire session and closed out the trades in advance expecting a wild move due to the US CPI news event.
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