Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Wednesday: A quite consolidation within the initial balance turned volatile in the late afternoon.The range extension was rejected and the market closed at the POC.
Bank Nifty :
– single prints at 12020 at the top.
– 11580 had the largest volumes and the region of 11580/ 11625 will resist all up moves
————
– 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.
——–
– a NV day with close at POC
-a move above 10965 can again bring 11058
– 10864 is VAL and support
– 10815 and 10777/ 10745 are possible below val tomorrow.
Nifty :
– single print selling from 5930 again today
– Large volumes at 5760 and 5794
———-
-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.
———
– single print selling from 5593
– below 5409, 5465 and 5420 possible.
– resistance again at 5597 and 5641.
– 5565 again a ref level to the upside
SBI :
– Large volumes visible below prev support of 2850
————
– 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.
————
– SBi did 2658 against the projected 2664
– single prints at top/ base of profile
– 2616 is support and 2666 initial resistnce
– above 2666 we can see 2691
RIL :
– RIL continues to be weak below 1005.
– RIL formed an inside day around HVN of 976.
– region of 925-32 to provide support after the poor lows seen at 940
————–
– RIl ‘s downslide can be halted if it moves above 962 cash
– support is 925 cash
-above 959F can reach 969
LT :
– large volumes visible at 1605.
– 1555 is the final support for this leg down.
—–
– Lt has supports at 1532/38
-below 1514, 1485 is possible.
– above 1542, 1557, 1571 will get done
—-
– poor lows at 1528 would call for a revisit there below VAL
– 1516 possible below 1528.
-above 1566, 1579 and 1592 are possible.
Broader market of Wednesday: A quite consolidation within the initial balance turned volatile in the late afternoon.The range extension was rejected and the market closed at the POC.
Bank Nifty :
– single prints at 12020 at the top.
– 11580 had the largest volumes and the region of 11580/ 11625 will resist all up moves
————
– 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.
——–
– a NV day with close at POC
-a move above 10965 can again bring 11058
– 10864 is VAL and support
– 10815 and 10777/ 10745 are possible below val tomorrow.
Nifty :
– single print selling from 5930 again today
– Large volumes at 5760 and 5794
———-
-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.
———
– single print selling from 5593
– below 5409, 5465 and 5420 possible.
– resistance again at 5597 and 5641.
– 5565 again a ref level to the upside
SBI :
– Large volumes visible below prev support of 2850
————
– 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.
————
– SBi did 2658 against the projected 2664
– single prints at top/ base of profile
– 2616 is support and 2666 initial resistnce
– above 2666 we can see 2691
RIL :
– RIL continues to be weak below 1005.
– RIL formed an inside day around HVN of 976.
– region of 925-32 to provide support after the poor lows seen at 940
————–
– RIl ‘s downslide can be halted if it moves above 962 cash
– support is 925 cash
-above 959F can reach 969
LT :
– large volumes visible at 1605.
– 1555 is the final support for this leg down.
—–
– Lt has supports at 1532/38
-below 1514, 1485 is possible.
– above 1542, 1557, 1571 will get done
—-
– poor lows at 1528 would call for a revisit there below VAL
– 1516 possible below 1528.
-above 1566, 1579 and 1592 are possible.
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