Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Friday: A normal variation day when price probed quickly below initial balance to test prev ref points.
Bank Nifty :
– single prints at 12020 at the top.
– a selling tail off the open at 11920
– action may shift to profile of 19/4 with lows of 11680/ 11650-11616/ 11551 in play below 11740 tomorrow.
————-
– 11580 had the largest volumes and the region of 11580/ 11625 will resist all up moves
– below 11450, Bn can see 11366 and if that does not hold then 11280/250.
Nifty :
– single print selling from 5930 again today
– NF stopped near 5804 with heavy volumes.
– 5785 and 5766 are possible below 5805 tomorrow.
– above 5824, NF can reach 5863.
——–
– Large volumes at 5760 and 5794
– above 5795, NF can move to 5823
– below 5764, lows of 5733 and 5702/14 can be seen again.
– a close above 5827 will pit NF on track for a 120 point moves to bal highs at 5948
– a close below 5714 will bring 5630/ 5570 next.
–
SBI :
– 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.
– SBI broke through 2920 to reach 2872 by close
– 2856 is support
—–
– The inside days have set up a powerful move in sbi and re-enetry into a prev bal zone.
– Large volumes visible below prev support of 2850
-2772 and 2722 are supports on way down.
RIL :
– RIL continues to be weak below 1005.
– 976 is an HVN and support below which it will see 961.
———-
– RIL formed an inside day around HVN of 976.
– 971 forms the lower extreme, below which it will vist 956.
– above 988, 999/ 1004 are possible.
LT :
——-
LT has support at 1650
—
– Like SBI, LT had an inside day and broke supports this week.
– large volumes visible at 1605.
– below 1596, 1582/ 1567 are possible.
– 1555 is the final support for this leg down.
– above 1612, it can revist 1627 and 1642.
–
Broader market of Friday: A normal variation day when price probed quickly below initial balance to test prev ref points.
Bank Nifty :
– single prints at 12020 at the top.
– a selling tail off the open at 11920
– action may shift to profile of 19/4 with lows of 11680/ 11650-11616/ 11551 in play below 11740 tomorrow.
————-
– 11580 had the largest volumes and the region of 11580/ 11625 will resist all up moves
– below 11450, Bn can see 11366 and if that does not hold then 11280/250.
Nifty :
– single print selling from 5930 again today
– NF stopped near 5804 with heavy volumes.
– 5785 and 5766 are possible below 5805 tomorrow.
– above 5824, NF can reach 5863.
——–
– Large volumes at 5760 and 5794
– above 5795, NF can move to 5823
– below 5764, lows of 5733 and 5702/14 can be seen again.
– a close above 5827 will pit NF on track for a 120 point moves to bal highs at 5948
– a close below 5714 will bring 5630/ 5570 next.
–
SBI :
– 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.
– SBI broke through 2920 to reach 2872 by close
– 2856 is support
—–
– The inside days have set up a powerful move in sbi and re-enetry into a prev bal zone.
– Large volumes visible below prev support of 2850
-2772 and 2722 are supports on way down.
RIL :
– RIL continues to be weak below 1005.
– 976 is an HVN and support below which it will see 961.
———-
– RIL formed an inside day around HVN of 976.
– 971 forms the lower extreme, below which it will vist 956.
– above 988, 999/ 1004 are possible.
LT :
——-
LT has support at 1650
—
– Like SBI, LT had an inside day and broke supports this week.
– large volumes visible at 1605.
– below 1596, 1582/ 1567 are possible.
– 1555 is the final support for this leg down.
– above 1612, it can revist 1627 and 1642.
–
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