The Italics are the comments from yesterday and the previous days.
Broader market of Friday :The market broke through the pull back low of 5866 thus negating the rally of the day before.The broader trend continues to be sideways above 5730.
Bank Nifty :
————-
– Bank Nifty showed a small buying tail near 11590.
———-
– 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.
——————
– BN closed above the pull back low of 11755
– selling prints at the top at 11990 levels.
-below 11740, BN can see 11657 and 11559
– strength above 11853 only to reach 11950
——-
Nifty :
————
– the region between 5730 and 5770 if nor defended will terminate the upmove from 5300 levels.
– 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.
—————-
– Nifty could nor defend the pull back low of 5866 and fell to 5820.
– 5822 is crucial level for tomorrow below which 5793/ 5764 are possible intra day.
– 5730 has to be defended for upmove to continue.
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
————
– below 2808, 2784 and 2758 are possible.
– support for the march uptrend is at 2696.
RIL :
– 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
——
– RIL continues to be weak below 1027
– below 1013 can now target 1005/ 997 tomorrow
– strength abv 1028 can bring 1043.
LT :
———-
– LT has shown responsive buying at 1665 for 2 day now.
————
– 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.
—————
– LT had single prints at top and bottom of profile on friday.
– 1709 should hold for LT to revisit 1773 and reach 1805.
Broader market of Friday :The market broke through the pull back low of 5866 thus negating the rally of the day before.The broader trend continues to be sideways above 5730.
Bank Nifty :
————-
– Bank Nifty showed a small buying tail near 11590.
———-
– 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.
——————
– BN closed above the pull back low of 11755
– selling prints at the top at 11990 levels.
-below 11740, BN can see 11657 and 11559
– strength above 11853 only to reach 11950
——-
Nifty :
————
– the region between 5730 and 5770 if nor defended will terminate the upmove from 5300 levels.
– 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.
—————-
– Nifty could nor defend the pull back low of 5866 and fell to 5820.
– 5822 is crucial level for tomorrow below which 5793/ 5764 are possible intra day.
– 5730 has to be defended for upmove to continue.
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
————
– below 2808, 2784 and 2758 are possible.
– support for the march uptrend is at 2696.
RIL :
– 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
——
– RIL continues to be weak below 1027
– below 1013 can now target 1005/ 997 tomorrow
– strength abv 1028 can bring 1043.
LT :
———-
– LT has shown responsive buying at 1665 for 2 day now.
————
– 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.
—————
– LT had single prints at top and bottom of profile on friday.
– 1709 should hold for LT to revisit 1773 and reach 1805.
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