The Italics are the comments from yesterday and the previous days.
Broader market of Monday :The market continued the auction from friday morning to the lower side, completely ignoring the value area of the week and probing to the lower side.
Bank Nifty :
———–
– 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.
————-
– Bank Nifty showed a small buying tail near 11590.
– 11549 and 11505 remain targets on the lower side
– above 11635, 11678 and 11721 possible.
Nifty :
————
– the region of 5790 has a single print buyer
– 5770/ 5790 is a big support zone for the market
– 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.
————-
– probe below val of 5800 can bring 5764 and 5746
– downmove will be discontinued if we close above 5851.
SBI :
————-
– SBI has responsive buying near 2764
– a sharp move below 2764 should bring the HVN at 2734 into play.
————–
– 2766/ 68 will be watched for downsides or more buying efforts.
RIL :
————
—————-
– RIL stopped at hvn of 1024.
– weakness below 1024 can easily bring 1007 .
—————-
– RIL is in a fresh downtrend and can target 992/ 996.
– down move will be over on close above 1027
LT :
———-
– LT has shown responsive buying at 1665 for 2 day now.
– below 1665, it’s an easy move to the HVN at 1644.
———–
– still in sideways mode.
– 1663 is the pivot around which 1651 or 1674 can be done.
Broader market of Monday :The market continued the auction from friday morning to the lower side, completely ignoring the value area of the week and probing to the lower side.
Bank Nifty :
———–
– 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.
————-
– Bank Nifty showed a small buying tail near 11590.
– 11549 and 11505 remain targets on the lower side
– above 11635, 11678 and 11721 possible.
Nifty :
————
– the region of 5790 has a single print buyer
– 5770/ 5790 is a big support zone for the market
– 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.
————-
– probe below val of 5800 can bring 5764 and 5746
– downmove will be discontinued if we close above 5851.
SBI :
————-
– SBI has responsive buying near 2764
– a sharp move below 2764 should bring the HVN at 2734 into play.
————–
– 2766/ 68 will be watched for downsides or more buying efforts.
RIL :
————
—————-
– RIL stopped at hvn of 1024.
– weakness below 1024 can easily bring 1007 .
—————-
– RIL is in a fresh downtrend and can target 992/ 996.
– down move will be over on close above 1027
LT :
———-
– LT has shown responsive buying at 1665 for 2 day now.
– below 1665, it’s an easy move to the HVN at 1644.
———–
– still in sideways mode.
– 1663 is the pivot around which 1651 or 1674 can be done.
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