Profile charts for 4th april

The Italics are the comments from yesterday and the previous days.

Broader market of Friday :Friday was an inside day on lower volumes. Trade facilitation was poor through out the day

Bank Nifty :

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– BN showed signs of weakening today
– 11714 is the key level for tomorrow.
– further weakness can easily bring 11592/ 11620. a previous area of single prints
– above 11714, can hit 11836.

—————-
– BN had a seller off the open resulting in single prints from 11805 to 11715
– price failed to break the single prints of 29/3 near 11620 mentioned above
– 11765 is prev value area, above which 11805 and 11865 are possible
– below 11643 there will be weakness
– a move below 11514 will put a question mark on the rally and may invite 11286.

Nifty :


———–
– NF formed an inside day on lower volumes.
– an exit of value and range is the best strategy after an inside day
– NF can target 5916 on the upside again and 5791 below 5833.
– the region of 5790 has a single print buyer
– 5770/ 5790 is a big support zone for the market, below which 5722/ 5650 are possible.

SBI :


– 2739 and 2715 are last supports for the recent upmove
– 3 day profile suggesting a DD down move
– bellow 2715, this market can tank to 2640 in 1-2 sessions.

RIL :


———–

– a bal profile today
– 1056 is imp ref level
– can hit 1071/ 1079 tomorrow above 1056
———–
– 1023 is intra day support.
– a close below 1031 will bring 1008 again
– staying above 1040, can hit 1057 again.

LT :

————

– 1670 is imp level
– 1705 and 1635 possible above/ below that level.

——–
– LT is balancing between 1635 and 1705

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