The Italics are the comments from yesterday and the previous days.
The markets saw an aggressive seller at the open and a responsive buyer at the lows who reversed a lot of the losses from earlier.
In the 2 way trade that ensued, a lots of stops were triggered across the board of both the buyers and sellers and only the nimble traders managed to turn it into a profitable session today.
Bank Nifty :
– 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
-a break of 10900 now will disturb this mini uptrend and cause an immediate move to 10755.
– we managed to short the mkt at 10780 ( mentioned above) earlier this morning for a quick 60 point trade
-the single print at 10660 gave support to the market today.
-the market has a weak structure between 10800 and 10720 which needs to be addressed.
-below 10660 we should have a quick fall to 10560 and 10510.
-10900 is an HVN, above which it should go to 11000.
Nifty :
——
– Buyers are holding the levels at 5304-5314, below which Nifty failed to auction today ( 28/2).
-again 5480 and above should produce a fast move to 5610 and then 5646.
——–
– Nifty profile has a weak structure with a seller at the top.
-above 5512, we may see 5547/ 62 and 5580.
-for tomorrow, a retest of 5439 is the most probable scenario.
–
SBI :
———
– 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.
————
– Inside day broke to the downside and found support near 2612.
RIL :
————–
– 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.
—————-
– lots of consolidation in RIL these days, making it a difficult intra day trading instrument
– we Will replace it with LT sometime this week.
The markets saw an aggressive seller at the open and a responsive buyer at the lows who reversed a lot of the losses from earlier.
In the 2 way trade that ensued, a lots of stops were triggered across the board of both the buyers and sellers and only the nimble traders managed to turn it into a profitable session today.
Bank Nifty :
– 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
-a break of 10900 now will disturb this mini uptrend and cause an immediate move to 10755.
– we managed to short the mkt at 10780 ( mentioned above) earlier this morning for a quick 60 point trade
-the single print at 10660 gave support to the market today.
-the market has a weak structure between 10800 and 10720 which needs to be addressed.
-below 10660 we should have a quick fall to 10560 and 10510.
-10900 is an HVN, above which it should go to 11000.
Nifty :
——
– Buyers are holding the levels at 5304-5314, below which Nifty failed to auction today ( 28/2).
-again 5480 and above should produce a fast move to 5610 and then 5646.
——–
– Nifty profile has a weak structure with a seller at the top.
-above 5512, we may see 5547/ 62 and 5580.
-for tomorrow, a retest of 5439 is the most probable scenario.
–
SBI :
———
– 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.
————
– Inside day broke to the downside and found support near 2612.
RIL :
————–
– 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.
—————-
– lots of consolidation in RIL these days, making it a difficult intra day trading instrument
– we Will replace it with LT sometime this week.
[learn_press_profile]