Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Thursday: Expiry related inventory pressure took the markets down to projected lows in a market which stayed below VAL all day.
Bank Nifty :
– single prints at 12020 at the top.
– below 11845, BN can reach 11760/77 and 11705.
– resistance will develop at 11922 and 11994.
——
– a selling tail off the open at 11920
– poor lows at 11746
– action may shift to profile of 19/4 with lows of 11680/ 11650-11616/ 11551 in play below 11740 tomorrow.
– above 11811, BN can reach 11876 and 11942.
Nifty :
– single print selling from 5930 again today
-below 5852, NF can hit 5828/36 and 5804-5790
-minor strength above 5876 towards 5900 and 5924.
—
– NF stopped near 5804 with heavy volumes.
– 5785 and 5766 are possible below 5805 tomorrow.
– above 5824, NF can reach 5863.
SBI :
– SBI has had 2 inside days now after breaking out of it’s prev range.
– 2940/ 2920 will set up the moves either side tomorrow.
– SBI broke through 2920 to reach 2872 by close
– 2856 is support
RIL :
– RIL continues to be weak below 1005.
– 976 is an HVN and support below which it will see 961.
—-
– RIL is weak if it stays below 978 tomorrow.
– tgts on the downside are 963/ 958
–
LT :
– Inside day in LT
– 1671 and 1650 are targets below 1687 tomorrow.
– strength above 1703 can take it back up to 1744.
——-
LT has support at 1650
Broader market of Thursday: Expiry related inventory pressure took the markets down to projected lows in a market which stayed below VAL all day.
Bank Nifty :
– single prints at 12020 at the top.
– below 11845, BN can reach 11760/77 and 11705.
– resistance will develop at 11922 and 11994.
——
– a selling tail off the open at 11920
– poor lows at 11746
– action may shift to profile of 19/4 with lows of 11680/ 11650-11616/ 11551 in play below 11740 tomorrow.
– above 11811, BN can reach 11876 and 11942.
Nifty :
– single print selling from 5930 again today
-below 5852, NF can hit 5828/36 and 5804-5790
-minor strength above 5876 towards 5900 and 5924.
—
– NF stopped near 5804 with heavy volumes.
– 5785 and 5766 are possible below 5805 tomorrow.
– above 5824, NF can reach 5863.
SBI :
– SBI has had 2 inside days now after breaking out of it’s prev range.
– 2940/ 2920 will set up the moves either side tomorrow.
– SBI broke through 2920 to reach 2872 by close
– 2856 is support
RIL :
– RIL continues to be weak below 1005.
– 976 is an HVN and support below which it will see 961.
—-
– RIL is weak if it stays below 978 tomorrow.
– tgts on the downside are 963/ 958
–
LT :
– Inside day in LT
– 1671 and 1650 are targets below 1687 tomorrow.
– strength above 1703 can take it back up to 1744.
——-
LT has support at 1650
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