Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Friday: A failed auction below the IB set up another move to the other side of balance on a day when a rally was the most obvious response to a market exhausted by it’s recent selling.
Bank Nifty :
– single prints at 12020 at the top.
– 11580 had the largest volumes and the region of 11580/ 11625 will resist all up moves
– 11116 is pull back high and important level for future ref.
———–
– dpoc at 10780
– 10707 is support for tomorrow.
– 10621 and 10534 are projected estimates below 10707.
– resistance to upmoves will be 10794 and then 10880.
—–
– an open test drive in BN from the prior ref level of 10830
– the market reached the single prints of 5/5 on decent volumes.
– 11380 is single prints from 3/5 a move above which should bring 11490 and 11585/610 next.
– support is at 11050/ 11015 below which we should see 10940.
Nifty :
– single print selling from 5930 again today
– Large volumes at 5760 and 5794
-5666/76 is pull back high and single prints and resistance for any upmoves
———
– single print selling from 5593
– 5565 again a ref level to the upside
————
– single prints at 5520-5493 in the middle of the DD
– VPOC at 5460
– 5406 and 5371 are projections for a lower auction
– 5510 will resist all upmoves
————-
– Single prints remain above 5565 level, which is rejecting all attempts for an upside auction
– Minor failed auction seen below 5474 IB, would call for a revisit during this coming week.
– 5499 is immediate support below which 5445 and 5391 will be done.
– above 5606, 5660 is possible.
SBI :
– Large volumes visible below prev support of 2850
– support expected between 2580-90 which are HVN’s
————–
– SBI had an inside day
– play break of value and range for good profits.
– 2634-2614-2606 are the value areas
-2666 OR 2558/ 2537 are possible when value breaks
————
– the break out from the inside day was not smooth asd SBI chose to add volume in the single prints from 2640 to 2686.
– above 2686, levels of 2706 and 2729 will be done
– support is 2637 below which 2610/14 will be done.
RIL :
– RIL continues to be weak below 1005.
– RIL formed an inside day around HVN of 976.
– region of 929-35 to provide support after the poor lows seen at 940
————–
– RIL will continue to get resisted at 971
– poor highs at 964 has to be repaired
-single print buyers at open for second day today
———-
– inside day in RIL on low volumes
– 966 and 952 are the ranges of RIL for a break out which should give either bring 976 or 945
LT :
——-
– Lt ran into resistance at 1574
-Below 1526 can see 1507/ 1487
– move above 1545 can take it to 1565
—–
-single print selling at the top in LT
– 1538 is support for tomorrow
-1569 is resistance to an upmove
Broader market of Friday: A failed auction below the IB set up another move to the other side of balance on a day when a rally was the most obvious response to a market exhausted by it’s recent selling.
Bank Nifty :
– single prints at 12020 at the top.
– 11580 had the largest volumes and the region of 11580/ 11625 will resist all up moves
– 11116 is pull back high and important level for future ref.
———–
– dpoc at 10780
– 10707 is support for tomorrow.
– 10621 and 10534 are projected estimates below 10707.
– resistance to upmoves will be 10794 and then 10880.
—–
– an open test drive in BN from the prior ref level of 10830
– the market reached the single prints of 5/5 on decent volumes.
– 11380 is single prints from 3/5 a move above which should bring 11490 and 11585/610 next.
– support is at 11050/ 11015 below which we should see 10940.
Nifty :
– single print selling from 5930 again today
– Large volumes at 5760 and 5794
-5666/76 is pull back high and single prints and resistance for any upmoves
———
– single print selling from 5593
– 5565 again a ref level to the upside
————
– single prints at 5520-5493 in the middle of the DD
– VPOC at 5460
– 5406 and 5371 are projections for a lower auction
– 5510 will resist all upmoves
————-
– Single prints remain above 5565 level, which is rejecting all attempts for an upside auction
– Minor failed auction seen below 5474 IB, would call for a revisit during this coming week.
– 5499 is immediate support below which 5445 and 5391 will be done.
– above 5606, 5660 is possible.
SBI :
– Large volumes visible below prev support of 2850
– support expected between 2580-90 which are HVN’s
————–
– SBI had an inside day
– play break of value and range for good profits.
– 2634-2614-2606 are the value areas
-2666 OR 2558/ 2537 are possible when value breaks
————
– the break out from the inside day was not smooth asd SBI chose to add volume in the single prints from 2640 to 2686.
– above 2686, levels of 2706 and 2729 will be done
– support is 2637 below which 2610/14 will be done.
RIL :
– RIL continues to be weak below 1005.
– RIL formed an inside day around HVN of 976.
– region of 929-35 to provide support after the poor lows seen at 940
————–
– RIL will continue to get resisted at 971
– poor highs at 964 has to be repaired
-single print buyers at open for second day today
———-
– inside day in RIL on low volumes
– 966 and 952 are the ranges of RIL for a break out which should give either bring 976 or 945
LT :
——-
– Lt ran into resistance at 1574
-Below 1526 can see 1507/ 1487
– move above 1545 can take it to 1565
—–
-single print selling at the top in LT
– 1538 is support for tomorrow
-1569 is resistance to an upmove
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