Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Thursday: An inside day after a normal distribution of yesterday
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
——-
– BN went on to finish the DD of yesterday
– 10656 is again res tomorrow above which BN will see 10721 easily.
– an easier move can happen above 10722 towards 10780/ 10800 as the area has single prints
– 10527 is support for tommm.
———-
– BN has a seller at 10660 at the top.
– Most of the volume was between 10600 and 10535
-a move above 10608 will bring 10650.
– support is 10532/ 10492.
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
————
– The mkt hit 5397 where it got minor responsive buying
– Profile is balanced with a seller at the top near 5465 and a buyer below
– resistance for tomorrow is 5473/77
– support will come at 5388, below which we will see 5360
——–
– profile again has a seller at the top
– the region of 5455-5475 will resist all upmoves. A close above 5480 can bring 70 points to 5550 again
– support is again 5400/03
SBI :
———–
– SBI formed a balance profile after a strong move yesterday
– 2361/ 2349/ 2337 are the value areas for a directional bias tomorrow.
– above 2366, can go to 2397/ 2428
– below 2331 will see 2304/ 2273
——-
– SBI showed a seller at the top at 2358
– a break above 2358 should bring 2394
– the profile is developing a balance after the big move on 17/5
RIL :
——–
– RIL formed a b shaped profile with seller at top indicating long liquidation
– 891/ 879 are tgts below 903 tomorrow
– 914/ 926 will resist upmoves.
———-
– RIl showed buyers appearing at 906 today
– the profile was within the b of yesterday
-a close above 935 will negate the bearishness of the past few profiles.
LT :
———
– LT also had a balanced profile, indicating another break of range to watch for
– 1519/ 1496 are initial resistance and support respectively
– above 1519, can see 1531 and 1543
– below 1496, 1485 and 1473
———
– LT broke out of the bal zone today on strong results
– 1646 will resist upmoves tomorrow
– 1561 should support on downside
ICICI Bank :
———–
– ICICI had an inside day
– 1020 is support and 1045 initial resistance
– move abv 1045 can bring 1057/ 1068
————
– still inside day in ICICi
– above 1046, an easy move to 1054 min is possible
-1020/1016 continues to be support
Broader market of Thursday: An inside day after a normal distribution of yesterday
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
——-
– BN went on to finish the DD of yesterday
– 10656 is again res tomorrow above which BN will see 10721 easily.
– an easier move can happen above 10722 towards 10780/ 10800 as the area has single prints
– 10527 is support for tommm.
———-
– BN has a seller at 10660 at the top.
– Most of the volume was between 10600 and 10535
-a move above 10608 will bring 10650.
– support is 10532/ 10492.
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
————
– The mkt hit 5397 where it got minor responsive buying
– Profile is balanced with a seller at the top near 5465 and a buyer below
– resistance for tomorrow is 5473/77
– support will come at 5388, below which we will see 5360
——–
– profile again has a seller at the top
– the region of 5455-5475 will resist all upmoves. A close above 5480 can bring 70 points to 5550 again
– support is again 5400/03
SBI :
———–
– SBI formed a balance profile after a strong move yesterday
– 2361/ 2349/ 2337 are the value areas for a directional bias tomorrow.
– above 2366, can go to 2397/ 2428
– below 2331 will see 2304/ 2273
——-
– SBI showed a seller at the top at 2358
– a break above 2358 should bring 2394
– the profile is developing a balance after the big move on 17/5
RIL :
——–
– RIL formed a b shaped profile with seller at top indicating long liquidation
– 891/ 879 are tgts below 903 tomorrow
– 914/ 926 will resist upmoves.
———-
– RIl showed buyers appearing at 906 today
– the profile was within the b of yesterday
-a close above 935 will negate the bearishness of the past few profiles.
LT :
———
– LT also had a balanced profile, indicating another break of range to watch for
– 1519/ 1496 are initial resistance and support respectively
– above 1519, can see 1531 and 1543
– below 1496, 1485 and 1473
———
– LT broke out of the bal zone today on strong results
– 1646 will resist upmoves tomorrow
– 1561 should support on downside
ICICI Bank :
———–
– ICICI had an inside day
– 1020 is support and 1045 initial resistance
– move abv 1045 can bring 1057/ 1068
————
– still inside day in ICICi
– above 1046, an easy move to 1054 min is possible
-1020/1016 continues to be support
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