The Italics are the comments from yesterday and the previous days.
Broader market of Wednesday : the buying seen late afternoon yesterday created a gap open and after a visit to VAh, the market finished with gains of over a 100 points.
Bank Nifty :
——————
– selling prints at the top at 11990 levels.
– a move above 11608 should bring 11680/95
– 11783 possible if upmove continues over the HVN of 11680
– 11521 is support for the market
—————–
– 11707 is support now
– 11935 and 11990/ 12023 will resist tomorrow.
– single prints btw 11960-11990
Nifty :
—————-
– Nifty could nor defend the pull back low of 5866 and fell to 5820.
– 5730 has to be defended ( closing basis) for upmove to continue.
——–
– poc at 5758 is critcal for action tomorrow
– Move above poc will bring 5797/ 5836
– support can be expected again at 5717 and then 5680 intra day.
———-
– No excess at close is reason for continuity to 5910/ 5958
– Break out zone of 5814 is support
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 2746, sbi can hit 2712 and 2696 which is final support.
– strength abv 2807 only now.
———
– a move below 2734 will bring 2704.
-if it manages to stay above 2758, it can hit 2824 again in 1-2 sessions.
———–
– eyes on 2862 again in SBI.
– 2838 is profit book zone (part)
– 2772 is support
RIL :
——
– RIL continues to be weak below 1027
– below 1013 can now target 1005/ 997 tomorrow
– strength abv 1028 can bring 1043.
——————
– RIL will gain upward momentum only above 1058
– 997/ 994 are last supports below which a move to 978/960 will begin
—————
– RIl still in a bracket with 1058 as upper limits
– can target 1044/ 1052 tomorrow.
– support at 1022.
LT :
– LT has shown responsive buying at 1665 for 2 days now.
————
– LT got buyers again at 1665
– 1736/ 1766/1795 are targets with sl at 1708 on closing basis.
————
1684/ 1665 are supports in LT tomorrow.
Broader market of Wednesday : the buying seen late afternoon yesterday created a gap open and after a visit to VAh, the market finished with gains of over a 100 points.
Bank Nifty :
——————
– selling prints at the top at 11990 levels.
– a move above 11608 should bring 11680/95
– 11783 possible if upmove continues over the HVN of 11680
– 11521 is support for the market
—————–
– 11707 is support now
– 11935 and 11990/ 12023 will resist tomorrow.
– single prints btw 11960-11990
Nifty :
—————-
– Nifty could nor defend the pull back low of 5866 and fell to 5820.
– 5730 has to be defended ( closing basis) for upmove to continue.
——–
– poc at 5758 is critcal for action tomorrow
– Move above poc will bring 5797/ 5836
– support can be expected again at 5717 and then 5680 intra day.
———-
– No excess at close is reason for continuity to 5910/ 5958
– Break out zone of 5814 is support
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 2746, sbi can hit 2712 and 2696 which is final support.
– strength abv 2807 only now.
———
– a move below 2734 will bring 2704.
-if it manages to stay above 2758, it can hit 2824 again in 1-2 sessions.
———–
– eyes on 2862 again in SBI.
– 2838 is profit book zone (part)
– 2772 is support
RIL :
——
– RIL continues to be weak below 1027
– below 1013 can now target 1005/ 997 tomorrow
– strength abv 1028 can bring 1043.
——————
– RIL will gain upward momentum only above 1058
– 997/ 994 are last supports below which a move to 978/960 will begin
—————
– RIl still in a bracket with 1058 as upper limits
– can target 1044/ 1052 tomorrow.
– support at 1022.
LT :
– LT has shown responsive buying at 1665 for 2 days now.
————
– LT got buyers again at 1665
– 1736/ 1766/1795 are targets with sl at 1708 on closing basis.
————
1684/ 1665 are supports in LT tomorrow.
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