Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Tuesday: The market roatated in the range of yesterday for the most part before making a move lower in the later part of the day
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
———
– The market operated in the single prints of friday reaching the 10846 projected figure
– profile shows a seller at the top at 10975
– support at 10800/ 816 tomorrow.
– resistance at 10916
——-
– BN did a DD with the lower distribution below 10705
– we treat the day as two separate auctions with 10662 first and then 10744 providing resistance to any upmove
– Below 10580, 10498 will be done.
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
———
– 5460 is support for the market tomorrow
– 5443/ 5424 are targets below 5460
– 5502/ 5522 will provide resistance
– above 5541 bias again turns slightly up.
———
– Mkt respected all the levels pointed out in profile
– the day was a DD with a new seller stepping in at 5464
– again below 5464 we treat as separate auction and look for acceptance or rejection tomorrow
– below 5428, 5400/ 5372 will be done
————
SBI :
– Large volumes visible below prev support of 2850
– support expected between 2580-90 which are HVN’s
——–
– SBI had a DD wityh single prints at 2596
– 2596/ 2601 will be resistance tomorrow
– below 2574, tgts are 2560/2546/ 2533s
———
– SBI formed an incomplete DD with the upper end of the lower distribution at 2475/85 serving as change of momentum for short term
– below 2363, 2325 and 2287 are possible
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
———-
– still a very narrow range in RIL
-972/961/ 950 would be the most probable distribution for Monday.
———-
– poor lows in RIL would invite more selling
———–
– RIL sold off from the poor lows of 943
– 910 is support tomorrow.
LT :
–
– Inside day in LT with a balanced profile
– 1508 is support below which 1492 will be done again
– Resistance will remain at 1538
———
– LT made a low of 1505 and a high of 1539
– Below 1504, it will visit 1490 again and a further breakdown can bring 1476/ 1462
– First resistance is at 1518 then 1532 to any upmove
ICICI Bank :
-responsive buying from 1045 in ICICI.
– single prints at 1071 are initial support
– above VAH 1094, 1116 possible in ICICI
————–
– ICICI will gain momentum only above 1063,
—————
– ICICI has good support near 1020 and can bounce strongle from there
– 1050/ 1063 will continue to resist
Broader market of Tuesday: The market roatated in the range of yesterday for the most part before making a move lower in the later part of the day
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
———
– The market operated in the single prints of friday reaching the 10846 projected figure
– profile shows a seller at the top at 10975
– support at 10800/ 816 tomorrow.
– resistance at 10916
——-
– BN did a DD with the lower distribution below 10705
– we treat the day as two separate auctions with 10662 first and then 10744 providing resistance to any upmove
– Below 10580, 10498 will be done.
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
———
– 5460 is support for the market tomorrow
– 5443/ 5424 are targets below 5460
– 5502/ 5522 will provide resistance
– above 5541 bias again turns slightly up.
———
– Mkt respected all the levels pointed out in profile
– the day was a DD with a new seller stepping in at 5464
– again below 5464 we treat as separate auction and look for acceptance or rejection tomorrow
– below 5428, 5400/ 5372 will be done
————
SBI :
– Large volumes visible below prev support of 2850
– support expected between 2580-90 which are HVN’s
——–
– SBI had a DD wityh single prints at 2596
– 2596/ 2601 will be resistance tomorrow
– below 2574, tgts are 2560/2546/ 2533s
———
– SBI formed an incomplete DD with the upper end of the lower distribution at 2475/85 serving as change of momentum for short term
– below 2363, 2325 and 2287 are possible
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
———-
– still a very narrow range in RIL
-972/961/ 950 would be the most probable distribution for Monday.
———-
– poor lows in RIL would invite more selling
———–
– RIL sold off from the poor lows of 943
– 910 is support tomorrow.
LT :
–
– Inside day in LT with a balanced profile
– 1508 is support below which 1492 will be done again
– Resistance will remain at 1538
———
– LT made a low of 1505 and a high of 1539
– Below 1504, it will visit 1490 again and a further breakdown can bring 1476/ 1462
– First resistance is at 1518 then 1532 to any upmove
ICICI Bank :
-responsive buying from 1045 in ICICI.
– single prints at 1071 are initial support
– above VAH 1094, 1116 possible in ICICI
————–
– ICICI will gain momentum only above 1063,
—————
– ICICI has good support near 1020 and can bounce strongle from there
– 1050/ 1063 will continue to resist
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