Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Monday: The market operated in two zones, one below the value of fridsy in the early part of the day and then in the lower distribution of friday, finishing flat for the day.
Bank Nifty :
——-
– Like the NF, BN has weak structure but a strong buying tail at 10730
——–
– A dd in BN with distribution between 10720-10790 and 10845-10945
– Below 10690 it can see 10652/ 10610
– above 10785, it can fill single prints upto 10852
———
– 10840 is the critical level for tuesday
– 10763 is support
– 10917 resistance
Nifty :
———-
– Mkt moved up on weak structure, which would invite rectification between 5560 and 5504 which are the value areas
—-
– A DD day with 2 distributions between 5556- 5608 and 5510-5540
– the weak structure from 31/ 5 has been addressed
– if market auctions below 5499, it can hit 5476/ 5464 (HVN) and 5420
– Above 5534 it can fill the single prints upto 5562
——
– support is 5508
– continuation of the upmove can be seen if 5536 holds
SBI :
– SBi also ad a DD day
– 2326-2306 and 2340 and 2364 represent the two auctions of friday
– below 2305 it can see 2285/ 80 and 2265
– above 2326 it will fill single prints upto 2346
————-
– 2317 and 2291 are supports
– resistance at 2343 and 2369
RIL :
– Another DD
– 951-939 and 957-969 represent the 2 auctions
– 930 is support below which it can see 917
————-
– support is at 936
– resistance at 949
LT :
– Lt was sideways for the 8th consecutive day
– 8 day balance area is 1662-1650-1626
—————–
– LT had good volumes into the close and closed at the highs
– cluster of resistances ahead at 1710/ 1724/ 1740
-support is 1678
——–
– 1726 and 1714 are supports
– above 1748, it can reach 1770
ICICI Bank :
– ICIC had poor structure and imbalance for friday’s move
– below 1048, it can slide to 1036
– 1072- 1048 will be the region for rectification
——
– support is 1048
– resiatnce will be 1066
Broader market of Monday: The market operated in two zones, one below the value of fridsy in the early part of the day and then in the lower distribution of friday, finishing flat for the day.
Bank Nifty :
——-
– Like the NF, BN has weak structure but a strong buying tail at 10730
——–
– A dd in BN with distribution between 10720-10790 and 10845-10945
– Below 10690 it can see 10652/ 10610
– above 10785, it can fill single prints upto 10852
———
– 10840 is the critical level for tuesday
– 10763 is support
– 10917 resistance
Nifty :
———-
– Mkt moved up on weak structure, which would invite rectification between 5560 and 5504 which are the value areas
—-
– A DD day with 2 distributions between 5556- 5608 and 5510-5540
– the weak structure from 31/ 5 has been addressed
– if market auctions below 5499, it can hit 5476/ 5464 (HVN) and 5420
– Above 5534 it can fill the single prints upto 5562
——
– support is 5508
– continuation of the upmove can be seen if 5536 holds
SBI :
– SBi also ad a DD day
– 2326-2306 and 2340 and 2364 represent the two auctions of friday
– below 2305 it can see 2285/ 80 and 2265
– above 2326 it will fill single prints upto 2346
————-
– 2317 and 2291 are supports
– resistance at 2343 and 2369
RIL :
– Another DD
– 951-939 and 957-969 represent the 2 auctions
– 930 is support below which it can see 917
————-
– support is at 936
– resistance at 949
LT :
– Lt was sideways for the 8th consecutive day
– 8 day balance area is 1662-1650-1626
—————–
– LT had good volumes into the close and closed at the highs
– cluster of resistances ahead at 1710/ 1724/ 1740
-support is 1678
——–
– 1726 and 1714 are supports
– above 1748, it can reach 1770
ICICI Bank :
– ICIC had poor structure and imbalance for friday’s move
– below 1048, it can slide to 1036
– 1072- 1048 will be the region for rectification
——
– support is 1048
– resiatnce will be 1066
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