Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Tuesday: A pull back in the morning session was bought around the HVN of 5482, which was a catalyst for a rally upto the next HVN of 5564
Bank Nifty :
——-
– Like the NF, BN has weak structure but a strong buying tail at 10730
– staying above 10940, it can reach 10986/11000
-10877 is initial support, which if fails can bring 10826
Nifty :
– Mkt created value sideways, but stayed below the 5484 HVN of 20/5 for the most part
– 5433 is support for tomorrow and 5485 again resistance
———-
– Mkt moved up on weak structure, which would invite rectification between 5560 and 5504 which are the value areas
– 5561/4 are the decider levels for tomorrow
– as long as the market stays above these it will reach 5594
– below 5561, levels of 5530 and 5497 are possible
SBI :
– SBI closed at the highs putting 2343 back in reach
– initial support for tomorrow is 2290
RIL :
– RIL closed at the HVN of 956
– It has a cluster of resistances between 966-984 for any bigmove
– 948 is support for tomorrow
LT :
– Lt was sideways for the 8th consecutive day
– 8 day balance area is 1662-1650-1626
ICICI Bank :
– ICICI had an open test drive, checking for prev activity at 1063 the pevious day’s POC
– 1073 needs to hold tomorrow for upmove to continue
Broader market of Tuesday: A pull back in the morning session was bought around the HVN of 5482, which was a catalyst for a rally upto the next HVN of 5564
Bank Nifty :
– Like the NF, BN has weak structure but a strong buying tail at 10730
– staying above 10940, it can reach 10986/11000
-10877 is initial support, which if fails can bring 10826
Nifty :
– Mkt created value sideways, but stayed below the 5484 HVN of 20/5 for the most part
– 5433 is support for tomorrow and 5485 again resistance
———-
– Mkt moved up on weak structure, which would invite rectification between 5560 and 5504 which are the value areas
– 5561/4 are the decider levels for tomorrow
– as long as the market stays above these it will reach 5594
– below 5561, levels of 5530 and 5497 are possible
SBI :
– SBI closed at the highs putting 2343 back in reach
– initial support for tomorrow is 2290
RIL :
– RIL closed at the HVN of 956
– It has a cluster of resistances between 966-984 for any bigmove
– 948 is support for tomorrow
LT :
– Lt was sideways for the 8th consecutive day
– 8 day balance area is 1662-1650-1626
ICICI Bank :
– ICICI had an open test drive, checking for prev activity at 1063 the pevious day’s POC
– 1073 needs to hold tomorrow for upmove to continue
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