The Italics are the comments from yesterday and the previous days.
Broader market of today : we had a normal variation day today with range extension and a close near the developing point of control and above the previous day’s value.
Bank Nifty :
————-
– The pull back rally high is 11150 ( adjusted for Mar).
– Poor lows at 10200.
– single prints from 10845 to 10950 are resistance points.
– 10785 is the large POC and should be visited tomorrow.
– A revisit of 10785 tomorrow will set up a trade to 10712 or 10855
————–
– VWAP for the series is still at 10800
– value for the series is 11020-10800-10720
– for the second day,BN got resisted at top of the single print again near 10845
– Longs can be tried about 15 points above day high at 10880 tomorrow to 10930-50.
Nifty :
————
– Buyers are holding the levels at 5304-5314, below which Nifty failed to auction today ( 28/2).
– we still want to think about the NF as a bracket between 5646 and 5346.
– profile shows a ledge like structure at 5358 day lows.
– auction required between 5395 and 5358 to develop the structure of today which is asymmetrical.
– above 5432 we can see 5469
——-
– auction didn’t happen below 5358, but 3 day profile is showing b shape ( short covering)
– vwap for the series is 5458 and the dpoc is at 5495 now.
– 5405-5495-5545 are series values
-5466/ 5489 are still in play as long as we trade above 5416 tomorrow.
SBI :
—–
– The market has attempted a bounce from the HVN at 2572
– 2572 will be ref level for further action.
—–
– small seller seen at 2640 which is the series vwap.
– strength above 2640 will continue the bounce from 2572.
RIL :
——–
– Big seller in RIL off the open.
– lots of work would be required to take that single print off
-1010 will again be first sign of the change back to highs
-It seems to have gone back to the previous bracket of 966-1008.
———
– RIL stayed below 1010 today.
– the poor highs means that 1010 may be revisited tomorrow.
– above 1011, RIL can see 1023 and 1039.
– 1006 is a prominent POC and good support if 1011 is broken to the upside.
LT :
—
– 1503 seems to be a support as it has single prints for second day today.
-1524 is a prominent POC which has to be visited.
– below 1503 will move to 1475.
—
Good bal profile developing above 1503 which can target 1569 on the upside.
Broader market of today : we had a normal variation day today with range extension and a close near the developing point of control and above the previous day’s value.
Bank Nifty :
————-
– The pull back rally high is 11150 ( adjusted for Mar).
– Poor lows at 10200.
– single prints from 10845 to 10950 are resistance points.
– 10785 is the large POC and should be visited tomorrow.
– A revisit of 10785 tomorrow will set up a trade to 10712 or 10855
————–
– VWAP for the series is still at 10800
– value for the series is 11020-10800-10720
– for the second day,BN got resisted at top of the single print again near 10845
– Longs can be tried about 15 points above day high at 10880 tomorrow to 10930-50.
Nifty :
————
– Buyers are holding the levels at 5304-5314, below which Nifty failed to auction today ( 28/2).
– we still want to think about the NF as a bracket between 5646 and 5346.
– profile shows a ledge like structure at 5358 day lows.
– auction required between 5395 and 5358 to develop the structure of today which is asymmetrical.
– above 5432 we can see 5469
——-
– auction didn’t happen below 5358, but 3 day profile is showing b shape ( short covering)
– vwap for the series is 5458 and the dpoc is at 5495 now.
– 5405-5495-5545 are series values
-5466/ 5489 are still in play as long as we trade above 5416 tomorrow.
SBI :
—–
– The market has attempted a bounce from the HVN at 2572
– 2572 will be ref level for further action.
—–
– small seller seen at 2640 which is the series vwap.
– strength above 2640 will continue the bounce from 2572.
RIL :
——–
– Big seller in RIL off the open.
– lots of work would be required to take that single print off
-1010 will again be first sign of the change back to highs
-It seems to have gone back to the previous bracket of 966-1008.
———
– RIL stayed below 1010 today.
– the poor highs means that 1010 may be revisited tomorrow.
– above 1011, RIL can see 1023 and 1039.
– 1006 is a prominent POC and good support if 1011 is broken to the upside.
LT :
—
– 1503 seems to be a support as it has single prints for second day today.
-1524 is a prominent POC which has to be visited.
– below 1503 will move to 1475.
—
Good bal profile developing above 1503 which can target 1569 on the upside.
[learn_press_profile]