The Italics are the comments from yesterday and the previous days.
Broader market of today : An initiative buyer at the open was met by selling near the previous days POC which resulted in range extension lower and the market forming poor lows.
Bank Nifty :
————-
– The pull back rally high is 11150 ( adjusted for Mar).
– Poor lows at 10200.
-single prints between 10775-10865 are good supports now
-10920 is first line of support followed by 10865
-above 11020 can target 11070 and 11130-60
— VWAP for the series is still at 10800/ dpoc at 10800 also.
—-
– support of the single print at 10865 held today ( 17/03)
– break of 10865 would mean a rotation to 10765
– 10945 is first level of resistance followed by 11020
—-
Nifty :
————
– Buyers are holding the levels at 5304-5314, below which Nifty failed to auction today ( 28/2).
– we still want to think about the NF as a bracket btw 5618 and 5400.
-upmove of today was based on short covering which can weaken the market structurally
– below the single print at 5427, this market can revisit 5391.
– vwap for the series is 5465 and the dpoc is at 5500 now.
– abreak of value can be best strategy for tomorrow,
– targets on the downside are 5486 and on up side are 5585 initially
———
– Mkts broke below 5486 convincingly in second half of the day
-5462 is the level to watch tomorrow below which we can see 5433/ 5402
-resistance above is 5510-19
vwap for the series is 5490 and dpoc at 5500
SBI :
———
– staying above 2639 can easily target 2703 next.
—-
– SBI went above 2639 to 2671 but closed well below 2639
RIL :
—-–
– RIL broke out of the consolidation today
– RIL did well to hit 1050 today.
-1018 is support now.
-1063/70
——–
LT :
—
– LT can get some momentum above 1570 now.
—-
Broader market of today : An initiative buyer at the open was met by selling near the previous days POC which resulted in range extension lower and the market forming poor lows.
Bank Nifty :
————-
– The pull back rally high is 11150 ( adjusted for Mar).
– Poor lows at 10200.
-single prints between 10775-10865 are good supports now
-10920 is first line of support followed by 10865
-above 11020 can target 11070 and 11130-60
— VWAP for the series is still at 10800/ dpoc at 10800 also.
—-
– support of the single print at 10865 held today ( 17/03)
– break of 10865 would mean a rotation to 10765
– 10945 is first level of resistance followed by 11020
—-
Nifty :
————
– Buyers are holding the levels at 5304-5314, below which Nifty failed to auction today ( 28/2).
– we still want to think about the NF as a bracket btw 5618 and 5400.
-upmove of today was based on short covering which can weaken the market structurally
– below the single print at 5427, this market can revisit 5391.
– vwap for the series is 5465 and the dpoc is at 5500 now.
– abreak of value can be best strategy for tomorrow,
– targets on the downside are 5486 and on up side are 5585 initially
———
– Mkts broke below 5486 convincingly in second half of the day
-5462 is the level to watch tomorrow below which we can see 5433/ 5402
-resistance above is 5510-19
vwap for the series is 5490 and dpoc at 5500
SBI :
———
– staying above 2639 can easily target 2703 next.
—-
– SBI went above 2639 to 2671 but closed well below 2639
RIL :
—-–
– RIL broke out of the consolidation today
– RIL did well to hit 1050 today.
-1018 is support now.
-1063/70
——–
LT :
—
– LT can get some momentum above 1570 now.
—-
[learn_press_profile]