The Italics are the comments from yesterday.
Bank Nifty :
——
– It was a trend day with a difference ( not a text book one)
– Mkt broke the mentioned supports from yesterday.
– The pull back rally high is 11144.
– Pull back rally is the afternoon adjustment of inventory and the trend of the previous days resumes only above this level.
-10816/ 10696 are lower supports
—-
– 11144 will be watched for price confirmation.
– above 11144 we should see 11283 again.
Nifty :
——
– Markets broke both support levels mentioned.
– Pull back high is 5542 ( letter L)
– Lower spike from letter o to letter p would have to be watched at Monday open.
– No real strength in the markets till pullback high is exceeded.
– 5370/ 5330 will nullify the larger up move.
——
– An attempt to move to new lows below 5435 was not a convincing act.
– downward auction was abruptly terminated at 5411.
– Again letter “P” provides a spike and 5467-5537 will be watched for confirmation/ rejection at the open.
– auction over 5542 will terminate the downward probe of Friday.
– 5571/ 5625/ 5676 are targets on the upside.
SBI :
– Lower support held in SBI.
– 4 days of profile shows supply drying up at 2720 levels.
– New selling will emerge only below 2720-2680 level.
—-
– 2854 within sights now.
RIL :
——–
– The last 30 mins of action brough RIL back in the previous bracket.
– 948-953 if not taken out would lead RIL lower to 924.
—-
– Lots of news in the counter. An interesting auction to watch tomorrow.
– 970/ 987 are ref levels on the upside.
Bank Nifty :
——
– It was a trend day with a difference ( not a text book one)
– Mkt broke the mentioned supports from yesterday.
– The pull back rally high is 11144.
– Pull back rally is the afternoon adjustment of inventory and the trend of the previous days resumes only above this level.
-10816/ 10696 are lower supports
—-
– 11144 will be watched for price confirmation.
– above 11144 we should see 11283 again.
Nifty :
——
– Markets broke both support levels mentioned.
– Pull back high is 5542 ( letter L)
– Lower spike from letter o to letter p would have to be watched at Monday open.
– No real strength in the markets till pullback high is exceeded.
– 5370/ 5330 will nullify the larger up move.
——
– An attempt to move to new lows below 5435 was not a convincing act.
– downward auction was abruptly terminated at 5411.
– Again letter “P” provides a spike and 5467-5537 will be watched for confirmation/ rejection at the open.
– auction over 5542 will terminate the downward probe of Friday.
– 5571/ 5625/ 5676 are targets on the upside.
SBI :
– Lower support held in SBI.
– 4 days of profile shows supply drying up at 2720 levels.
– New selling will emerge only below 2720-2680 level.
—-
– 2854 within sights now.
RIL :
——–
– The last 30 mins of action brough RIL back in the previous bracket.
– 948-953 if not taken out would lead RIL lower to 924.
—-
– Lots of news in the counter. An interesting auction to watch tomorrow.
– 970/ 987 are ref levels on the upside.
[learn_press_profile]