The Italics are the comments from yesterday and the previous days.
Broader market of Monday :The market broke through it’s two day balance above 5880 and made a further 65 points northwards by the end of the day above 5880
Bank Nifty :
—————-
– 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.
————-
– BN formed a Double distribution day
– single prints from 11805 to 11770 are now support
– above 11978 can reach 12038/ 12098 tomorrow.
– 11918 is the crucial level for tomorrow’s trade.
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.
———-
– inside day broke to the upside
– momentum of the break out carried it well past our estimate of 5916 towards 5956.
– DD in NF with single prints at 5905 providing support
– 5959 is the critical level above which NF can reach 5986/ 6013.
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.
—————-
– SBi took support near 2739, which turned out to be the low of the day
– By the close it had covered the single prints of 1/ 4 .
– 2799 is crucial for reversing all downside possibilities.
– can hit 2814/ 2829 above 2799
RIL :
———–
– 1023 is intra day support.
– a close below 1031 will bring 1008 again
– staying above 1040, can hit 1057 again.
————-
– uptrend is definitely on and 1091/ 1122 should be seen with stop at 1027 from current levels
– for tomorrow staying above 1062, RIL can hit 1082/92.
LT :
——–
– LT is balancing between 1635 and 1705
—-
– LT is showing signs of breaking out towards 1787 now.
– a close above 1709 tomorrow would confirm it.
– sl for break out is 1685 from current levels.
Broader market of Monday :The market broke through it’s two day balance above 5880 and made a further 65 points northwards by the end of the day above 5880
Bank Nifty :
—————-
– 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.
————-
– BN formed a Double distribution day
– single prints from 11805 to 11770 are now support
– above 11978 can reach 12038/ 12098 tomorrow.
– 11918 is the crucial level for tomorrow’s trade.
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.
———-
– inside day broke to the upside
– momentum of the break out carried it well past our estimate of 5916 towards 5956.
– DD in NF with single prints at 5905 providing support
– 5959 is the critical level above which NF can reach 5986/ 6013.
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.
—————-
– SBi took support near 2739, which turned out to be the low of the day
– By the close it had covered the single prints of 1/ 4 .
– 2799 is crucial for reversing all downside possibilities.
– can hit 2814/ 2829 above 2799
RIL :
———–
– 1023 is intra day support.
– a close below 1031 will bring 1008 again
– staying above 1040, can hit 1057 again.
————-
– uptrend is definitely on and 1091/ 1122 should be seen with stop at 1027 from current levels
– for tomorrow staying above 1062, RIL can hit 1082/92.
LT :
——–
– LT is balancing between 1635 and 1705
—-
– LT is showing signs of breaking out towards 1787 now.
– a close above 1709 tomorrow would confirm it.
– sl for break out is 1685 from current levels.
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