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 revisit set-up a reverse move taking the Nifty to the breacket highs, before soem late profit booking closed the index just off the lows
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
————
– day low of 10845 is pivot for the day tomorrow
– above 10845, 10927 is possible again, above which we should get 11009
– 10800/ 10763 are likely to be visited below 10845
———–
– The market reversed from 10810 just off the HVN of 05/05 at 10800
– single prints at 11000 are support for the market
– above 11073 we can see a move to 11160/ 11150 and then 11225
– 10922/ 10846 possible below 11000
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
————-
– Minor failed auction seen below 5474 IB, would call for a revisit during this coming week.
————-
– A dd day with two distributions , the second of which started at 5522
– we would treat today as two separate auctions, and two separate sessions
– 5523/ 5535 is very strong resistance now for the market
– 5438 is support below 5460 tomorrow
———-
– the revisit of the failed auction pointed above happened friday
– single prints at 5540 are new support for the market
– we would be cautiously bullish above 5601 for a visit to 5663.
– 5724 can happen above 5663 if short-covering/ buying happens
-Below 5440, the market can see 5478 very quickly.
SBI :
– Large volumes visible below prev support of 2850
– support expected between 2580-90 which are HVN’s
——–
– 2632 will be initial resistance above which SBI can see 2649
– first support at 2615, below which 2598 and 2581 are possible
———
– single prints from 2600 to 2613 are institutional buying
– 2620 is support for Mon
– above 2648, we should visit 2677
–
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
———-
– still a very narrow range in RIL
-972/961/ 950 would be the most probable distribution for Monday.
LT :
——
– LT broke bal profile with a directional move today
– profile formed an incomplete distribution at lower end
– 1486 is support tomorrow
– 1522 will be first resistance
———–
– responsive buying from 1493 lifted LT on Friday
– 1531 is support if upmove has to continue
– above 1555, a move to 1574 possible
ICICI Bank :
-responsive buying from 1045 in ICICI.
– single prints at 1071 are initial support
– above VAH 1094, 1116 possible in ICICI
Broader market of Friday: A failed auction revisit set-up a reverse move taking the Nifty to the breacket highs, before soem late profit booking closed the index just off the lows
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
————
– day low of 10845 is pivot for the day tomorrow
– above 10845, 10927 is possible again, above which we should get 11009
– 10800/ 10763 are likely to be visited below 10845
———–
– The market reversed from 10810 just off the HVN of 05/05 at 10800
– single prints at 11000 are support for the market
– above 11073 we can see a move to 11160/ 11150 and then 11225
– 10922/ 10846 possible below 11000
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
————-
– Minor failed auction seen below 5474 IB, would call for a revisit during this coming week.
————-
– A dd day with two distributions , the second of which started at 5522
– we would treat today as two separate auctions, and two separate sessions
– 5523/ 5535 is very strong resistance now for the market
– 5438 is support below 5460 tomorrow
———-
– the revisit of the failed auction pointed above happened friday
– single prints at 5540 are new support for the market
– we would be cautiously bullish above 5601 for a visit to 5663.
– 5724 can happen above 5663 if short-covering/ buying happens
-Below 5440, the market can see 5478 very quickly.
SBI :
– Large volumes visible below prev support of 2850
– support expected between 2580-90 which are HVN’s
——–
– 2632 will be initial resistance above which SBI can see 2649
– first support at 2615, below which 2598 and 2581 are possible
———
– single prints from 2600 to 2613 are institutional buying
– 2620 is support for Mon
– above 2648, we should visit 2677
–
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
———-
– still a very narrow range in RIL
-972/961/ 950 would be the most probable distribution for Monday.
LT :
——
– LT broke bal profile with a directional move today
– profile formed an incomplete distribution at lower end
– 1486 is support tomorrow
– 1522 will be first resistance
———–
– responsive buying from 1493 lifted LT on Friday
– 1531 is support if upmove has to continue
– above 1555, a move to 1574 possible
ICICI Bank :
-responsive buying from 1045 in ICICI.
– single prints at 1071 are initial support
– above VAH 1094, 1116 possible in ICICI
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