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– The pull back rally high is 11150 ( adjusted for Mar).
– 10616 is the upper end of the minus development zone from 11/2.
– Poor lows at 10200
– 10560 is the pull back high above which short term trend changes to up.
– 10755/780 is short term support and the market has to stay above this level for it to reach 11150 mentioned above
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– Single print selling tails now for 2 days, Friday’s sell was from the 11150 level mentioned above.
-a break of 10900 now will disturb this mini uptrend and cause an immediate move to 10755.
-above 11085 may attempt 11150 again in a fast development
Nifty :
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– Buyers are holding the levels at 5304-5314, below which Nifty failed to auction today ( 28/2).
-consolidation/ balancing would be good before any up move.
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– consolidation would give small moves.
– a break of 5405 to 5480 to 5455 intra day
-again 5480 and above should produce a fast move to 5610 and then 5646.
SBI :
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– 2514 almost done. is a good support zone.
– an auction above 2674 will signal end of the downtrend and a start of a move which should give 2754 next.
– profile shows buying prints at 2630.
—–
– inside day in SBI
– trade the break of value and range.
RIL :
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– 966 represents upper end of the prior bracket, as also gap fill.
– One can take a long position here for 991/1010 with a stop at 952.
_RIL is forming another bracket between 966-1009.
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– lots of consolidation in RIL these days, making it a difficult intra day trading instrument
– we Will replace it with LT sometime during next week.
[learn_press_profile]