Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Monday: The market operated in the value area of friday before a late break above vah closed the earlier selling tail and the market wound up at VAH little changed.
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
——–
– 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
—————
– single prints from 11165 to 11225 at the top
– minor buying tail near 10940 support
– 11090 is the pivot for tomorrow according to profile
– 11164/ 11238 are possible on upside above this level.
– 11015 and 10940 are again possible below this
– above 11238, 11387 and below 10940, 10866 may form extremes.
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 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.
———-
– poor highs at 5584, would call for a revisit there.
– 5563 is thye critical level tomorrow above which 5587 and 5610 will be done.
– 5540/5534 is first support
– 5516 and 5493 will be done on auction below 5434
– 4 day profile is in balance after the big move from 5700 levels
SBI :
– Large volumes visible below prev support of 2850
– support expected between 2580-90 which are HVN’s
– 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.
——–
– 4 day profile in SBi is sideways with a bearish undertone
– single prints at top today btw 2650 and 2668
– 2664-2628-2593 can be the larger swing
mode with 2628 as pivot
– above 2664, 2686 and 2699 can get done
– 2593-83 is previous support below which SBI may move to 2557 and 2522.
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
———-
– 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
——
– RIL operated within 966-952
– 5 day profile is balanced
– 969-954 will be watched for break of balance tomorrow
– 984 and 939 are the respective targets for the breakout move.
LT :
——-
– LT profile is sidways for past 4 days
-1570-1537 is the range for tomorrow a break of which should bring 1603 or 1504
Broader market of Monday: The market operated in the value area of friday before a late break above vah closed the earlier selling tail and the market wound up at VAH little changed.
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
——–
– 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
—————
– single prints from 11165 to 11225 at the top
– minor buying tail near 10940 support
– 11090 is the pivot for tomorrow according to profile
– 11164/ 11238 are possible on upside above this level.
– 11015 and 10940 are again possible below this
– above 11238, 11387 and below 10940, 10866 may form extremes.
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 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.
———-
– poor highs at 5584, would call for a revisit there.
– 5563 is thye critical level tomorrow above which 5587 and 5610 will be done.
– 5540/5534 is first support
– 5516 and 5493 will be done on auction below 5434
– 4 day profile is in balance after the big move from 5700 levels
SBI :
– Large volumes visible below prev support of 2850
– support expected between 2580-90 which are HVN’s
– 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.
——–
– 4 day profile in SBi is sideways with a bearish undertone
– single prints at top today btw 2650 and 2668
– 2664-2628-2593 can be the larger swing
mode with 2628 as pivot
– above 2664, 2686 and 2699 can get done
– 2593-83 is previous support below which SBI may move to 2557 and 2522.
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
———-
– 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
——
– RIL operated within 966-952
– 5 day profile is balanced
– 969-954 will be watched for break of balance tomorrow
– 984 and 939 are the respective targets for the breakout move.
LT :
——-
– LT profile is sidways for past 4 days
-1570-1537 is the range for tomorrow a break of which should bring 1603 or 1504
[learn_press_profile]