The Italics are the comments from yesterday and the previous days.
Broader market of Monday :A responsive seller in the H period from 5910 levels took the markets swiftly towards the 5760 levels, where recovery efforts were snuffed out. A NV day.
Bank Nifty :
————-
– Bank Nifty showed a small buying tail near 11590.
– The BN revisited and closed in the 11885- 11920 zone which was the scene of selling all through last week.
– Pull back low at 11755 is the new support for the market.
——————
– BN closed above the pull back low of 11755
– selling prints at the top at 11990 levels.
-below 11740, BN can see 11657 and 11559
– strength above 11853 only to reach 11950
——-
– strength seen in the morning abv 11853 took the market upto 11940.
– failure to hold friday’s pull back low of 11755 dragged the index down sharply.
– 11533 is the critical level for tomorrow and support
-below 11533, there can be a quick move to 11470 & 11388 as there is less structure
– strength abv 11677 only.
Nifty :
————
– the region between 5730 and 5770 if nor defended will terminate the upmove from 5300 levels.
—————-
– Nifty could nor defend the pull back low of 5866 and fell to 5820.
– 5822 is crucial level for tomorrow below which 5793/ 5764 are possible intra day.
– 5730 has to be defended for upmove to continue.
————
– 5717 is key level for tomorrow’s trade
– 5685 and 5629/13 are supports below.
– strength only abv 5805 tomorrow.
SBI :
———
– Like the BN, sbi reached the top of the april bracket at 2840 and halted for the day.
– 2862 is a previous POC where the market can slow down
– a fresh upmove will begin above 2887
————
– below 2808, 2784 and 2758 are possible.
– support for the march uptrend is at 2696.
—————-
– below 2746, sbi can hit 2712 and 2696 which is final support.
– strength abv 2807 only now.
RIL :
– down move will be over on close above 1027
——
– RIL continues to be weak below 1027
– below 1013 can now target 1005/ 997 tomorrow
– strength abv 1028 can bring 1043.
——————
– a move below 1007, can bring 995.
LT :
– LT has shown responsive buying at 1665 for 2 day now.
– LT had single prints at top and bottom of profile on friday.
– 1709 should hold for LT to revisit 1773 and reach 1805.
——-
– a move below 1674 tomorrow can bring 1643 and 1621.
-above 1708 can reatrace back to 1739
Broader market of Monday :A responsive seller in the H period from 5910 levels took the markets swiftly towards the 5760 levels, where recovery efforts were snuffed out. A NV day.
Bank Nifty :
————-
– Bank Nifty showed a small buying tail near 11590.
– The BN revisited and closed in the 11885- 11920 zone which was the scene of selling all through last week.
– Pull back low at 11755 is the new support for the market.
——————
– BN closed above the pull back low of 11755
– selling prints at the top at 11990 levels.
-below 11740, BN can see 11657 and 11559
– strength above 11853 only to reach 11950
——-
– strength seen in the morning abv 11853 took the market upto 11940.
– failure to hold friday’s pull back low of 11755 dragged the index down sharply.
– 11533 is the critical level for tomorrow and support
-below 11533, there can be a quick move to 11470 & 11388 as there is less structure
– strength abv 11677 only.
Nifty :
————
– the region between 5730 and 5770 if nor defended will terminate the upmove from 5300 levels.
—————-
– Nifty could nor defend the pull back low of 5866 and fell to 5820.
– 5822 is crucial level for tomorrow below which 5793/ 5764 are possible intra day.
– 5730 has to be defended for upmove to continue.
————
– 5717 is key level for tomorrow’s trade
– 5685 and 5629/13 are supports below.
– strength only abv 5805 tomorrow.
SBI :
———
– Like the BN, sbi reached the top of the april bracket at 2840 and halted for the day.
– 2862 is a previous POC where the market can slow down
– a fresh upmove will begin above 2887
————
– below 2808, 2784 and 2758 are possible.
– support for the march uptrend is at 2696.
—————-
– below 2746, sbi can hit 2712 and 2696 which is final support.
– strength abv 2807 only now.
RIL :
– down move will be over on close above 1027
——
– RIL continues to be weak below 1027
– below 1013 can now target 1005/ 997 tomorrow
– strength abv 1028 can bring 1043.
——————
– a move below 1007, can bring 995.
LT :
– LT has shown responsive buying at 1665 for 2 day now.
– LT had single prints at top and bottom of profile on friday.
– 1709 should hold for LT to revisit 1773 and reach 1805.
——-
– a move below 1674 tomorrow can bring 1643 and 1621.
-above 1708 can reatrace back to 1739
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