The Italics are the comments from yesterday and the previous days.
Broader market of today : An initiative seller at the open was met by a responsive buyer near the single print zone of 5377 which paved the way for a move to the dpoc level of 5500 where selling emerged again
Bank Nifty :
————-
– The pull back rally high is 11150 ( adjusted for Mar).
– Poor lows at 10200
– Profile shows a strong seller at 10965 ( initiative) and minor responsive buying at 10775
-above 10960 will see 11020
– Pull back high is 10825/ 35 above which small longs can be considered for 10900
-The mkt failed to attract sellers below 10760 today.
– Open drive from 10750 on 14/03 ( Buying single print and support)
-10910 and 10846 are first supports for the market.
— VWAP for the series is still at 10800/ dpoc at 10800 also.
——
– mkts put in a p shaped profile on the back of short covering from lower levels.
– short covering weakens markets
-VWAP for the series is still at 10780/ dpoc at 10800 also.
-10690 and 10616 are tgts on downside
-above 10840 the BN can go to 10900 .
Nifty :
————
– Buyers are holding the levels at 5304-5314, below which Nifty failed to auction today ( 28/2).
– vwap for the series is 5465 and the dpoc is at 5500 now.
– only a close above 5500 will eliminate some short term bearishness
– we still want to think about the NF as a bracket btw 5618 and 5400.
-upmove of today was based on short covering which can weaken the market structurally
—–
– Nifty profile of today is p shaped with a small selling tail at the top.
— vwap for the series is 5461 and the dpoc is at 5500 now.
– below the single print at 5427, this market can revisit 5391.
SBI :
———
– Profile shows an initiative seller near 2674 today, but also responsive buyer to lower prices.
-downtrend will be broken only above 2652 now.
—-
-vwap for the series is 2640 and developing point of control is 2601
– support still at 2512-21
RIL :
—–
– RIL broke out of the consolidation today
– 1008 is now support
—–
– RIL did well to hit 1050 today.
-uptrend is strong as long as 1018 is held now.
-1063/70 and 1101 are tgts on upper side
LT :
-1470 is good support for LT
-1590 is resistance
Broader market of today : An initiative seller at the open was met by a responsive buyer near the single print zone of 5377 which paved the way for a move to the dpoc level of 5500 where selling emerged again
Bank Nifty :
————-
– The pull back rally high is 11150 ( adjusted for Mar).
– Poor lows at 10200
– Profile shows a strong seller at 10965 ( initiative) and minor responsive buying at 10775
-above 10960 will see 11020
– Pull back high is 10825/ 35 above which small longs can be considered for 10900
-The mkt failed to attract sellers below 10760 today.
– Open drive from 10750 on 14/03 ( Buying single print and support)
-10910 and 10846 are first supports for the market.
— VWAP for the series is still at 10800/ dpoc at 10800 also.
——
– mkts put in a p shaped profile on the back of short covering from lower levels.
– short covering weakens markets
-VWAP for the series is still at 10780/ dpoc at 10800 also.
-10690 and 10616 are tgts on downside
-above 10840 the BN can go to 10900 .
Nifty :
————
– Buyers are holding the levels at 5304-5314, below which Nifty failed to auction today ( 28/2).
– vwap for the series is 5465 and the dpoc is at 5500 now.
– only a close above 5500 will eliminate some short term bearishness
– we still want to think about the NF as a bracket btw 5618 and 5400.
-upmove of today was based on short covering which can weaken the market structurally
—–
– Nifty profile of today is p shaped with a small selling tail at the top.
— vwap for the series is 5461 and the dpoc is at 5500 now.
– below the single print at 5427, this market can revisit 5391.
SBI :
———
– Profile shows an initiative seller near 2674 today, but also responsive buyer to lower prices.
-downtrend will be broken only above 2652 now.
—-
-vwap for the series is 2640 and developing point of control is 2601
– support still at 2512-21
RIL :
—–
– RIL broke out of the consolidation today
– 1008 is now support
—–
– RIL did well to hit 1050 today.
-uptrend is strong as long as 1018 is held now.
-1063/70 and 1101 are tgts on upper side
LT :
-1470 is good support for LT
-1590 is resistance
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