In this Nifty chart & Bank Nifty chart Option chain analysis video I have discussed about price action of Nifty 50 and Bank Nifty along with importance volume analysis for both Nifty and Bank Nifty. I have also shown how ABC pattern can be used to identify right set of stocks within Nifty and Bank Nifty.
I have begun this video on Nifty and Bank Nifty by showing how current breakout in both Nifty and Bank Nifty has come on back of strong volumes. Both Nifty and Bank Nifty have consolidated after breakout and this week, both have risen on back of Strong momentum. This is again a very positive sign heading ahead. This week I have covered the importance of ABC pattern in depth. I will be doing a separate video on this in the Swing Trading series. For now though, I have shown how you can use ABC pattern to identify right stocks in both Nifty and in Bank Nifty.
I have then moved onto to cover FII and Mutual funds flow in the market. Over the last 3-4 months, FII’s have been buying into the market and domestic funds as such have not seen any major out flow as such. From market’s standpoint, this is again very positive and as confidence returns in market, allocation will increase with each passing session. For now, trend for both Nifty and Bank Nifty is clearly up and focus of traders should be on participating on the upside. Towards the end, I have discussed Nifty chart and Bank Nifty chart key levels for next week.