WE shift to May futures with tonight’s post. All charts in the trading room will be of May futures tomorrow.
Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Wednesday: For the second day we had initiative selling at the open and the market went on to complete one half of the 80 % rule by hitting the POC ( price profile).
Bank Nifty :
– single prints at 12020 at the top.
– below 11845, BN can reach 11760/77 and 11705.
– resistance will develop at 11922 and 11994.
– single print selling from 5930 again today
-below 5852, NF can hit 5828/36 and 5804-5790
-minor strength above 5876 towards 5900 and 5924.
– SBI has had 2 inside days now after breaking out of it’s prev range.
– 2940/ 2920 will set up the moves either side tomorrow.
– RIL continues to be weak below 1005.
– 976 is an HVN and support below which it will see 961.
– Inside day in LT
– 1671 and 1650 are targets below 1687 tomorrow.
– strength above 1703 can take it back up to 1744.