Profile charts fo 2nd June

Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.

Broader market of Wednesday: The market operated in and around the HVN of 5564 before a spike into the close finished the day at the highs

Bank Nifty :
Bank Nifty Mp1 Profile Charts Fo 2Nd June

– Like the NF, BN has weak structure but a strong buying tail at 10730
– staying above 10940, it can reach 10986/11000
-10877 is initial support, which if fails can bring 10826
– BN had a balanced profile repairing most of the poor structure from yesterday
– 10851 is support tomorrow and below that we may see 10779
– resistance is 10994/11000

Nifty :

Nifty Mp Profile Charts Fo 2Nd June


– Mkt moved up on weak structure, which would invite rectification between 5560 and 5504 which are the value areas
– 5561/4 are the decider levels for tomorrow
– as long as the market stays above these it will reach 5594
– below 5561, levels of 5530 and 5497 are possible

– The market stopped on the road to 5530 at 5546 abruptly creating a failed auction at 5546
– 5546 is a ref line for tomorrow’s auction and should hold for up move to continue
-resiatnce for tomorrow will be 5607 and then 5628


Sbi Mp Profile Charts Fo 2Nd June

– SBI closed at the highs putting 2343 back in reach
– initial support for tomorrow is 2290

– SBi hit 2343 at the highs today
– above 2350 it can hit 2366/ 2383 tomorrow
– support is 2319


Ril Mp Profile Charts Fo 2Nd June

– RIL closed at the HVN of 956
– It has a cluster of resistances between 966-984 for any big move
– 948 is support for tomorrow
– RIL formed a minor b shaped pattern today
– 944/ 939 are supports tomorrow
– 960 will resist

LT :

Lt Mp Profile Charts Fo 2Nd June

– Lt was sideways for the 8th consecutive day
– 8 day balance area is 1662-1650-1626
– LT had good volumes into the close and closed at the highs
– cluster of resistances ahead at 1710/ 1724/ 1740
-support is 1678

ICICI Bank :

Icici Mp Profile Charts Fo 2Nd June

– ICICI had an open test drive, checking for prev activity at 1063 the previous day’s POC
– 1073 needs to hold tomorrow for upmove to continue

– ICICI broke below 1073 at the open to test 1057 before coming back to close above
-support is 1062 tomorrow