Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Monday: A gap down below value area low of friday was not met by any buying activity resulting in the indices drifting lower in the single prints of friday
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
———–
– 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
———
– The market operated in the single prints of friday reaching the 10846 projected figure
– profile shows a seller at the top at 10975
– support at 10800/ 816 tomorrow.
– resistance at 10916
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
———-
– 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.
———
– 5460 is support for the market tomorrow
– 5443/ 5424 are targets below 5460
– 5502/ 5522 will provide resistance
– above 5541 bias again turns slightly up.
SBI :
– Large volumes visible below prev support of 2850
– support expected between 2580-90 which are HVN’s
——–
– single prints from 2600 to 2613 are institutional buying
– 2620 is support for Mon
– above 2648, we should visit 2677
——–
– SBI had a DD wityh single prints at 2596
– 2596/ 2601 will be resistance tomorrow
– below 2574, tgts are 2560/2546/ 2533s
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.
———-
– poor lows in RIL would invite more selling
LT :
———–
– responsive buying from 1493 lifted LT on Friday
– 1531 is support if upmove has to continue
– above 1555, a move to 1574 possible
——-
– Inside day in LT with a balanced profile
– 1508 is support below which 1492 will be done again
– resisnace will remain at 1538
ICICI Bank :
-responsive buying from 1045 in ICICI.
– single prints at 1071 are initial support
– above VAH 1094, 1116 possible in ICICI
————–
– ICICI will gain momentum only above 1063,
Broader market of Monday: A gap down below value area low of friday was not met by any buying activity resulting in the indices drifting lower in the single prints of friday
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
———–
– 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
———
– The market operated in the single prints of friday reaching the 10846 projected figure
– profile shows a seller at the top at 10975
– support at 10800/ 816 tomorrow.
– resistance at 10916
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
———-
– 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.
———
– 5460 is support for the market tomorrow
– 5443/ 5424 are targets below 5460
– 5502/ 5522 will provide resistance
– above 5541 bias again turns slightly up.
SBI :
– Large volumes visible below prev support of 2850
– support expected between 2580-90 which are HVN’s
——–
– single prints from 2600 to 2613 are institutional buying
– 2620 is support for Mon
– above 2648, we should visit 2677
——–
– SBI had a DD wityh single prints at 2596
– 2596/ 2601 will be resistance tomorrow
– below 2574, tgts are 2560/2546/ 2533s
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.
———-
– poor lows in RIL would invite more selling
LT :
– responsive buying from 1493 lifted LT on Friday
– 1531 is support if upmove has to continue
– above 1555, a move to 1574 possible
——-
– Inside day in LT with a balanced profile
– 1508 is support below which 1492 will be done again
– resisnace will remain at 1538
ICICI Bank :
-responsive buying from 1045 in ICICI.
– single prints at 1071 are initial support
– above VAH 1094, 1116 possible in ICICI
————–
– ICICI will gain momentum only above 1063,
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