After breaking above a 13-day consolidation band, TCS shares have earned the right to not limit the present upmove to just a one day surge but can rally to Rs 4315-4350 in the base case scenario and Rs 4588 in an optimistic scenario, says Anand James, Chief Market Strategist, Geojit Financial Services. Edited excerpts from … Read more
Even though 24,900 could be threatened at some time during the week, the odds of a swift downside appear low, says Anand James, Chief Market Strategist, Geojit Financial Services. “Our eyes are however on 24,900, the fibo retracement of the recent low-high, as long as above which, we could see a push towards 25390 or … Read more
After BSE has announced that it will discontinue Bankex weekly expiries, the market is rife with speculations that NSE may choose Nifty Bank over Nifty as both exchanges have to pick one expiry under new Sebi rules. Nifty Bank brings in higher volumes for the exchange, and better trading opportunities for speculators, but if Nifty … Read more
Private largecap bank stocks like HDFC Bank, ICICI Bank, Axis Bank, and IndusInd Bank, which together form around 60% of Bank Nifty, saw Long buildup or shorts being covered on a week-on-week basis, says Anand James, Chief Market Strategist, Geojit Financial Services. “Delivery buying has started to pick up this week in the case of … Read more
Following the nearly 2,500-point rally in Nifty Bank last week, oscillators are clearly screaming overbought at the top of their voice. “But this is a classic case of bullish phases. The fact negative divergences are visible in weekly and monthly timeframes signals volatility ahead, and cautious against fresh positions, but to let profits run,” says … Read more
NEW DELHI: A Bollinger band is indicating that Nifty may rally in the Diwali week but two Doji candles formed in the last days do not inspire confidence towards an outright uptrend early next week, says Anand James, Chief Market Strategist at Geojit Financial Services. Edited excerpts from a chat: Unlock Leadership Excellence with a … Read more
NEW DELHI: The deep cut in the last few days appears to have found bargain buying in HCL Tech, providing a window for upside reversal, says Anand James, Chief Market Strategist at Geojit Financial Services. “But, should it fail to float above Rs 1135, a new leg of downsides could unfold,” he said, adding that … Read more
“Despite the late, but powerful short covering on the expiry day, OTM strikes beyond 18,400 failed to attract call longs, while 18000 puts found the strong short build-up,” says Anand James, Chief Market Strategist at . In an interview with ETMarkets, James said: “We feel that this needs to be read along with the directional … Read more
“Rise in volatility is a sign of topping. But, despite the rise in volatility this week, Friday’s closing of VIX was still below 19, a level which I think could give something for everyone – jobbing opportunities for the traders, as well as dips for investors to accumulate,” says Anand James, Chief Market Strategist at … Read more