Profile charts for 11th May

Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.

Broader market of Tuesday: A neutral day with range extensions on either side of IB. Break of the consolidation phase imminent

Bank Nifty :

Bank Nifty Mp51 Profile Charts For 11Th May


– single prints at 12020 at the top.
– 11580 had the largest volumes and the region of 11580/ 11625 will resist all up moves
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– an open test drive in BN from the prior ref level of 10830
– the market reached the single prints of 5/5 on decent volumes.
– 11380 is single prints from 3/5 a move above which should bring 11490 and 11585/610 next.
– support is at 11050/ 11015 below which we should see 10940
—————
– single prints from 11165 to 11225 at the top
– minor buying tail near 10940 support
– 11090 is the pivot for tomorrow according to profile
– 11164/ 11238 are possible on upside above this level.
– 11015 and 10940 are again possible below this
– above 11238, 11387 and below 10940, 10866 may form extremes.
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– 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
– possible range extensions below this are 10842/ 10800/ 10760
– extension above will bring 11165 and 11248



Nifty :

Nifty Mp9 Profile Charts For 11Th May




– 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
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– Minor failed auction seen below 5474 IB, would call for a revisit during this coming week.
———-
– poor highs at 5584, would call for a revisit there.
– 5563 is thye critical level tomorrow above which 5587 and 5610 will be done.
– 5540/5534 is first support
– 5516 and 5493 will be done on auction below 5434
– 4 day profile is in balance after the big move from 5700 levels
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– 5584 was revisited and 5516 was done as lows of the day
– 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.



SBI :

Sbi Mp71 Profile Charts For 11Th May



– Large volumes visible below prev support of 2850
– support expected between 2580-90 which are HVN’s

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– 4 day profile in SBi is sideways with a bearish undertone
– single prints at top today btw 2650 and 2668
– 2664-2628-2593 can be the larger swing
mode with 2628 as pivot
– above 2664, 2686 and 2699 can get done
– 2593-83 is previous support below which SBI may move to 2557 and 2522.
——-
– 5th day of sideways action with lows at 2614
– single prints from 2650-2668 remain
-2612 support and 2649 resistance




RIL :

Ril Mp51 Profile Charts For 11Th May



– 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 operated within 966-952
– 5 day profile is balanced
– 969-954 will be watched for break of balance tomorrow
– 984 and 939 are the respective targets for the breakout move.
———–

– RIL formed a DD
– 959 is single prints and resistance now
– 938 and 932 are targets below 943



LT :

Lt Mp61 Profile Charts For 11Th May


——-
– 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

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