The Italics are the comments from yesterday and the previous days.
Broader market of Thursday :The mkt continues it’s balancing act distributing in a 50 point range today.
Bank Nifty :
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– single print of 11885-920 stayed.
– 11870-11850-11760 is the 4 day balance value area.
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– Friday’s profile came very close to the Price poc of 11655.
– resistance at 1885/920 stayed.
– below 11655, 11591 and 11510 become immediate targets.
– larger upmove will be in danger below 11470 single prints.
Nifty :
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– the region of 5790 has a single print buyer
– 5770/ 5790 is a big support zone for the market
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– a move below 5839 at the open tomorrow can bring 5807/ 5791.
– the region between 5730 and 5770 if nor defended will terminate the upmove from 5300 levels.
– above 5902 we can loook at 5934 again intra day.
SBI :
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– SBI can target 2843/ 2860 if it stays above 2808 tomorrow.
– 2799 reverses all downside possibilities
– however a failure would bring 2766 again
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– SBI has responsive buying near 2764
– a sharp move below 2764 should bring the HVN at 2734 into play.
RIL :
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– RIL has been trading a very narrow range again.
– 1039/42 has been holding for some time now.
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– RIL stopped at hvn of 1024.
– weakness below 1024 can easily bring 1007 .
LT :
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– LT has shown responsive buying at 1665 for 2 day now.
– below 1665, it’s an easy move to the HVN at 1644.
