The Italics are the comments from yesterday and the previous days.
Broader market of Wednesday :The market found initiative buyers near the 5730-70 zone who triggered short covering later in the day above 5850 levels to take the markets to 5945 levels.
Bank Nifty :
————-
– Bank Nifty showed a small buying tail near 11590.
– 11549 and 11505 remain targets on the lower side
– above 11635, 11678 and 11721 possible.
———-
– The BN revisited and closed in the 11885- 11920 zone which was the scene of selling all through last week.
– Pull back low at 11755 is the new support for the market.
– Consolidation and volumes in the 11790 to 11888 zone will be good for the market
– above 11936, it can hit 11985/ 12033/ 12081.
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.
————–
– Pull back low is 5866 and support for the market.
– again we saw the heaviest volumes at the close, like Monday evening.
– On monday POC and VAL was the same, but wed POC and VAH were the same.
– Consolidation between 5934 and 5884 will be good.
– above 5959, 5984, 6009 are possible.
SBI :
———
– Like the BN, sbi reached the top of the april bracket at 2840 and halted for the day.
– 2862 is a previous POC where the market can slow down
– a fresh upmove will begin above 2887
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
——–
– spike in the last few mins of trade brought 1027.
– we would have to wait out the first d period to confirm if the prev downtrend has ended.
– accepting above spike high of 1028 confirms a new uptrend.
– 1037, 1044, 1052 are targets on upside if spike accepted
– 1013 can be hit again if we rotate back
——
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.
————
– Strong buying appeared in LT at 1640 levels projected above
– at EOD, the profile confirmed a break of 1665- 1708 bracket
-staying above 1735, 1757 and 1179 become imm targets
– sl is 1712 for swing trade positions.
Broader market of Wednesday :The market found initiative buyers near the 5730-70 zone who triggered short covering later in the day above 5850 levels to take the markets to 5945 levels.
Bank Nifty :
————-
– Bank Nifty showed a small buying tail near 11590.
– 11549 and 11505 remain targets on the lower side
– above 11635, 11678 and 11721 possible.
———-
– The BN revisited and closed in the 11885- 11920 zone which was the scene of selling all through last week.
– Pull back low at 11755 is the new support for the market.
– Consolidation and volumes in the 11790 to 11888 zone will be good for the market
– above 11936, it can hit 11985/ 12033/ 12081.
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.
————–
– Pull back low is 5866 and support for the market.
– again we saw the heaviest volumes at the close, like Monday evening.
– On monday POC and VAL was the same, but wed POC and VAH were the same.
– Consolidation between 5934 and 5884 will be good.
– above 5959, 5984, 6009 are possible.
SBI :
———
– Like the BN, sbi reached the top of the april bracket at 2840 and halted for the day.
– 2862 is a previous POC where the market can slow down
– a fresh upmove will begin above 2887
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
——–
– spike in the last few mins of trade brought 1027.
– we would have to wait out the first d period to confirm if the prev downtrend has ended.
– accepting above spike high of 1028 confirms a new uptrend.
– 1037, 1044, 1052 are targets on upside if spike accepted
– 1013 can be hit again if we rotate back
——
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.
————
– Strong buying appeared in LT at 1640 levels projected above
– at EOD, the profile confirmed a break of 1665- 1708 bracket
-staying above 1735, 1757 and 1179 become imm targets
– sl is 1712 for swing trade positions.
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