Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Tuesday: The market’s move to remain above vwap and attempt a range extension on the upside was reversed by an exogenous event which saw the index close at day lows.
Bank Nifty :
– single prints at 12020 at the top.
– a selling tail off the open at 11920
——
– 11580 had the largest volumes and the region of 11580/ 11625 will resist all up moves
————-
– An open drive off the open at 11580, ended up taking the BN to well below 11250
– a b shaped profile at close.
-value area 11349-11253 holds the key to tomorrow’s movement.
– above vah, 11402/ 11480 possible.
– below 11237, 11157 can be done.
————
– dpoc shifted at close to 10920.
– 10860 is support
– 11020 can resist initially.
-single prints at 11180 again resistance
– 11116 is pull back high and important level for future ref.
Nifty :
– single print selling from 5930 again today
——–
– Large volumes at 5760 and 5794
——
-above 5737, 5761 and 5786 are possible
-weakness below 5710, will bring 5685 and 5660
———-
-5666/76 is pull back high and single prints and resistance for any upmoves
– 5554 is support off open price below which 5525/15 is possible.
– initial resistance to any upmoves will be 5593, then 5633.
SBI :
– Large volumes visible below prev support of 2850
—————–
– sbi formed an irregular b with value of 2742 and 2706.
– below 2696, sbi can do 2640
– strength above 2752 will get SBi to 2772/ 2808
————
– support expected between 2580-90 which are HVN’s
-2491 spot and 2672 spot will support and resist respectively for swing term.
– weak again below 2579 fut
– minor strength above 2622 can take it to 2664.
–
RIL :
– RIL continues to be weak below 1005.
– RIL formed an inside day around HVN of 976.
– 971 forms the lower extreme, below which it will visit 956.
—-
– RIl broke 2 day balance at 971
– poor lows at 960 would mean that it will revisit the area.
—
– Inside day break out finally gave momentum to even a dead stock.
– region of 925-32 to provide support after the poor lows seen at 940
LT :
– large volumes visible at 1605.
– 1555 is the final support for this leg down.
——
– LT had a good bounce off thye lows to finish higher
– 1614 would have to be maintained for the bounce to continue.
—–
– Lt has supports at 1532/38
-below 1514, 1485 is possible.
– above 1542, 1557, 1571 will get done
Broader market of Tuesday: The market’s move to remain above vwap and attempt a range extension on the upside was reversed by an exogenous event which saw the index close at day lows.
Bank Nifty :
– single prints at 12020 at the top.
– a selling tail off the open at 11920
——
– 11580 had the largest volumes and the region of 11580/ 11625 will resist all up moves
————-
– An open drive off the open at 11580, ended up taking the BN to well below 11250
– a b shaped profile at close.
-value area 11349-11253 holds the key to tomorrow’s movement.
– above vah, 11402/ 11480 possible.
– below 11237, 11157 can be done.
————
– dpoc shifted at close to 10920.
– 10860 is support
– 11020 can resist initially.
-single prints at 11180 again resistance
– 11116 is pull back high and important level for future ref.
Nifty :
– single print selling from 5930 again today
——–
– Large volumes at 5760 and 5794
——
-above 5737, 5761 and 5786 are possible
-weakness below 5710, will bring 5685 and 5660
———-
-5666/76 is pull back high and single prints and resistance for any upmoves
– 5554 is support off open price below which 5525/15 is possible.
– initial resistance to any upmoves will be 5593, then 5633.
SBI :
– Large volumes visible below prev support of 2850
—————–
– sbi formed an irregular b with value of 2742 and 2706.
– below 2696, sbi can do 2640
– strength above 2752 will get SBi to 2772/ 2808
————
– support expected between 2580-90 which are HVN’s
-2491 spot and 2672 spot will support and resist respectively for swing term.
– weak again below 2579 fut
– minor strength above 2622 can take it to 2664.
–
RIL :
– RIL continues to be weak below 1005.
– RIL formed an inside day around HVN of 976.
– 971 forms the lower extreme, below which it will visit 956.
—-
– RIl broke 2 day balance at 971
– poor lows at 960 would mean that it will revisit the area.
—
– Inside day break out finally gave momentum to even a dead stock.
– region of 925-32 to provide support after the poor lows seen at 940
LT :
– large volumes visible at 1605.
– 1555 is the final support for this leg down.
——
– LT had a good bounce off thye lows to finish higher
– 1614 would have to be maintained for the bounce to continue.
—–
– Lt has supports at 1532/38
-below 1514, 1485 is possible.
– above 1542, 1557, 1571 will get done
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