Profile charts for 8th Apr

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

Broader market of Thursday :The mkt continues it’s balancing act distributing in a 50 point range today.

Bank Nifty :



———–

– BN hit a low of 11733 again today.
– single prints of yesterday at 11885-11920 remain
– 11847-11720 is the distribution area of today.

————-

– single print of 11885-920 stayed.
– 11870-11850-11760 is the 4 day balance value area.

Nifty :




————
– the region of 5790 has a single print buyer
– 5770/ 5790 is a big support zone for the market
——————-

– 5934-5910-5862 is the 4 day value area this week.
– the mkt operated mostly in the value of yesterday

SBI :




————–

– SBI can target 2843/ 2860 if it stays above 2808 tomorrow.
– 2799 reverses all downside possibilities
– however a failure would bring 2766 again
————

– SBI should stay above 2796 now to continue uptrend.Target 2853/95.
– 2 day profile is balanced and bell shaped..


RIL :


– RIL has been trading a very narrow range again.
– 1039/42 has been holding for some time now.


LT :


—-
– still between 1635 and 1705.

– sideways movement continues.

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