US markets take a u-turn after consolidating near resistance; benchmark indices fell over a percent. Dow Jones Transportation Index and BankIndex dell 3.6% and 2.7% respectively.
On DowJones, the broadening Wedge pattern indicates the index may dip to 32,600 levels.

Indian markets traded in a range yesterday and SGX Nifty indicates negative opening of 30points.

Nifty is yet to break the major hurdle of 17,900 on the chart.
On derivative structure, 17800CE and 18000CE holds OI over 2L contracts indicating a resistance zone while 17700PE have an OI of 2.66L signaling support area.

Index may trade in the range till expiry between 17,500-18,000 zone.

Banking stocks were trending mix as ICICI and SBI were bullish while HDFCBank and Axis Bank closed in red.
On BankNifty, 42,300 will act as major support zone and likely to head towards 43,000 levels.

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BankNifty - Will History Repeat?

👍🏻 Yes
👎🏻 No

US markets slip for a straight second day as Transportation stocks fell over 3.5% for consecutive days.

The head and should breakdown is visible on the Dow Jones Transportation (DJT) index indicating more pain for the transportation industry like airlines, railroads, trucking companies, and shipping companies. DJT is a way to measure the health of the overall economy.

On Expiry Day, Nifty is likely to trade in the range of 17,700-17,950 as indicated by the derivative structure.
On the chart, the gap of 17th April 2023 is filled at 17,826 and the index has the wall to climb at 17,900.
Index is likely to trade in the range of 17,680-17,900 today and traders can look for writing options.

On BankNifty, the index broke above the previous high of 42,865 indicating the momentum towards 43,000 levels.

SGX Nifty is indicating a positive opening of 35pts.

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Here's a list of stocks to watch out for today. This list is updated LIVE, so be sure to check back regularly... http://www.eqtm.in/Me4d3

It's a weekly and monthly close on charts; global equities, gold and silver may close in green for the month.

On Nifty, after the doji in March, the April series is ending with bullish candlestick confirming the reversal.
Can we hit new all-time-high in the May series?

BankNifty reclaimed 43,000 mark; base for the May series will be at 41,600-42,234 zone.

SGXNifty indicating the positive opening of 70points; 18,000 will be the key for the Nifty Spot.

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SGXNifty - Bullish H&S Breakout 📈

The first day of May and we may have over 100pts gap-up on Nifty.

The breaokut from nexkline on the bullish or inverted head and shoulder indicates the bulls are in control of trend.

The last hour bullish momentum on Friday in BankNifty indicates the bulls are getting stronger as per Heikin Ashi candles. The the base for the week will be 42,560-42,716.

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Fast Profits Daily - Sector of the Month: Energy

What do the charts say about energy stocks?

http://www.eqtm.in/w4ZLp

US markets tumble over a percent ahead of Federal Reserve interest rates decisions; US 10years yields correct by 4% to 3.43%.

Indian BankNifty can expect a knee jerk reaction below 43,000 mark this week to retest the key support area of 42,600-42,789.

SGX Nifty indicates negative opening of around 70pts and it may dip to 17,956-18,041 zone to retest the neckline of bullish head and shoulder pattern.

On spot Nifty, 17,817-17,946 remains the base for May series. The bears can be in the game only on the break of 17,767.

Power stocks should be on traders watchlist for the day.

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NSE Nifty Heatmap - Here is the heatmap showing the gainers and losers in the NSE Nifty index.
http://www.eqtm.in/Dg5m2