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 balanced distribution with the close near the point of control. An exit of value should provide the first clue tomorrow for a longer time frame presence moving the market.
Bank Nifty :
( 11156-11019-10882 is the larger range)
– single prints at 12020 at the top.
– 11580 had the largest volumes and the region of 11580/ 11625 will resist all up moves
————-
– a Balanced distribution with single prints at top and poor lows at bottom
– 11025 is the centre of balance
– 10923 is support for tomorrow
– 11086 will resist upmoves again
———–
– 11086 was the high of the day with single print selling upto 11070 ( minor failed auction)
– lows of 10901 repaired the poor lows of yesterday
– 10940 VAL is first support tomorrow below which 10900/ 10857 can be done
– 11130 is resistance tomorrow
Nifty :
(5640-5569-5499 is the larger range)
– 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
————-
– Minor failed auction seen below 5474 IB, would call for a revisit during this coming week.
———
– profile is a neutral day with poor lows at the top ( opposite to BN)
– 5537 is an imp ref level for tomorrow
– auction abv 5537 only will bring 5578 again and 5619
– we may see a move to 5497 and the failed auction zone of 5456/ 5415 below that.
———–
– – Larger range is 5499-5640 for NF
– A break of value is the best strategy tomorrow
– 5523/ 5501 possible below VAL
– 5588/ 5610 possible above vah
SBI :
( 2685-2649-2612 is the larger range)
– Large volumes visible below prev support of 2850
– support expected between 2580-90 which are HVN’s
——-
– 5th day of sideways action with lows at 2614
– single prints from 2650-2668 remain
-2612 support and 2649 resistance
——
– single prints btw 2650 and 2669 got taken out today
-staying above 2661, SBI can do 2680/87
– 2643 is support below which 2634 will be done
RIL :
( 969-958-946 is the larger range)
– RIL continues to be weak below 1005.
– RIL formed an inside day around HVN of 976.
– region of 929-35 to provide support after the poor lows seen at 940
————-
– RIL formed a DD
– 959 is single prints and resistance now
– 938 and 932 are targets below 943
———-
– RIL got resisted at 959 SP
– 964 will resist tomorrow abv which 974 can get done
– support is 945
LT :
( 1567-1545-1522 is the larger range)
——-
– LT profile is sideways for past 4 days
-1570-1537 is the range for tomorrow a break of which should bring 1603 or 1504
—-
– LT continued to be sideways
– 1571 and 1528 are ref levels for range break-out
———
– Bal profile in LT indicating a directional move coming
– break of value is the best strategy
– below 1526, 1518/ 1510 / 1503 will be done
– strength above 1541 only.
Broader market of Wednesday: A balanced distribution with the close near the point of control. An exit of value should provide the first clue tomorrow for a longer time frame presence moving the market.
Bank Nifty :
( 11156-11019-10882 is the larger range)
– single prints at 12020 at the top.
– 11580 had the largest volumes and the region of 11580/ 11625 will resist all up moves
————-
– a Balanced distribution with single prints at top and poor lows at bottom
– 11025 is the centre of balance
– 10923 is support for tomorrow
– 11086 will resist upmoves again
———–
– 11086 was the high of the day with single print selling upto 11070 ( minor failed auction)
– lows of 10901 repaired the poor lows of yesterday
– 10940 VAL is first support tomorrow below which 10900/ 10857 can be done
– 11130 is resistance tomorrow
Nifty :
(5640-5569-5499 is the larger range)
– 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
————-
– Minor failed auction seen below 5474 IB, would call for a revisit during this coming week.
———
– profile is a neutral day with poor lows at the top ( opposite to BN)
– 5537 is an imp ref level for tomorrow
– auction abv 5537 only will bring 5578 again and 5619
– we may see a move to 5497 and the failed auction zone of 5456/ 5415 below that.
———–
– – Larger range is 5499-5640 for NF
– A break of value is the best strategy tomorrow
– 5523/ 5501 possible below VAL
– 5588/ 5610 possible above vah
SBI :
( 2685-2649-2612 is the larger range)
– Large volumes visible below prev support of 2850
– support expected between 2580-90 which are HVN’s
——-
– 5th day of sideways action with lows at 2614
– single prints from 2650-2668 remain
-2612 support and 2649 resistance
——
– single prints btw 2650 and 2669 got taken out today
-staying above 2661, SBI can do 2680/87
– 2643 is support below which 2634 will be done
RIL :
( 969-958-946 is the larger range)
– RIL continues to be weak below 1005.
– RIL formed an inside day around HVN of 976.
– region of 929-35 to provide support after the poor lows seen at 940
————-
– RIL formed a DD
– 959 is single prints and resistance now
– 938 and 932 are targets below 943
———-
– RIL got resisted at 959 SP
– 964 will resist tomorrow abv which 974 can get done
– support is 945
LT :
( 1567-1545-1522 is the larger range)
——-
– LT profile is sideways for past 4 days
-1570-1537 is the range for tomorrow a break of which should bring 1603 or 1504
—-
– LT continued to be sideways
– 1571 and 1528 are ref levels for range break-out
———
– Bal profile in LT indicating a directional move coming
– break of value is the best strategy
– below 1526, 1518/ 1510 / 1503 will be done
– strength above 1541 only.
[learn_press_profile]