Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Thursday: After some confusion caused by news flow, longer time frame players entered the market to make it a double distribution day after the balanced profile of yesterday
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
————-
– 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
————
– day low of 10845 is spivot for the day tomorrow
– above 10845, 10927 is possible again, above which we should get 11009
– 10800/ 10763 are likely to be visited below 10845
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.
———
– – 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
————-
– A dd day with two distributions , the second of which started at 5522
– we would treat today as two separate auctions, and two separate sessions
– 5523/ 5535 is very strong resistance now for the market
– 5438 is support below 5460 tomorrow
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
——
– 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
=======
– 2632 will be initial resistance above which SBI can see 2649
– first support at 2615, below which 2598 and 2581 are possible
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 got resisted at 959 SP
– 964 will resist tomorrow abv which 974 can get done
– support is 945
———–
– Staying below 943, RIL can see 938/ 933/ 928
LT :
( 1567-1545-1522 is the larger range)
———
– 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.
——
– LT broke bal profile with a directional move today
– profile formed an incomplete distribution at lower end
– 1486 is support tomorrow
– 1522 will be first resistance
Broader market of Thursday: After some confusion caused by news flow, longer time frame players entered the market to make it a double distribution day after the balanced profile of yesterday
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
————-
– 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
————
– day low of 10845 is spivot for the day tomorrow
– above 10845, 10927 is possible again, above which we should get 11009
– 10800/ 10763 are likely to be visited below 10845
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.
———
– – 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
————-
– A dd day with two distributions , the second of which started at 5522
– we would treat today as two separate auctions, and two separate sessions
– 5523/ 5535 is very strong resistance now for the market
– 5438 is support below 5460 tomorrow
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
——
– 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
=======
– 2632 will be initial resistance above which SBI can see 2649
– first support at 2615, below which 2598 and 2581 are possible
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 got resisted at 959 SP
– 964 will resist tomorrow abv which 974 can get done
– support is 945
———–
– Staying below 943, RIL can see 938/ 933/ 928
LT :
( 1567-1545-1522 is the larger range)
———
– 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.
——
– LT broke bal profile with a directional move today
– profile formed an incomplete distribution at lower end
– 1486 is support tomorrow
– 1522 will be first resistance
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