Profile charts for 30th May

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

Broader market of Monday: A low volume day, where value was established sideways with a range extension done on the lower side

Bank Nifty :

Bank Nifty Mp20 Profile Charts For 30Th May




– The marked opened at the top of the 3 day balance and covered the single prints of 23/5 in quick time causing a p shaped profile into the close
– the close was at the HVN of 20/5, leaving bias open for new activity here.
– above 10688, the mkt can hit 10749 and 10810.
-10560 is support below
————-
– MKt created value higher but stayed in a small range
– 10626 is good support for the market tomorrow
– above 10757, we cam see 10810/22 and 10889



Nifty :

Nifty Mp28 Profile Charts For 30Th May


– The NF opened above the failed auction high and created value in the gap open of Monday between 5450 and 5484
– the close was slightly below the HVN of 5484
– 5507/ 5524 remain targets on upside probes
– 5422- 5434 is support area
——————–

– Mkt created value sideways, but stayed below the 5484 HVN of 20/5 for the most part
– 5433 is support for tomorrow and 5485 again resistance


SBI :

Sbi Mp26 Profile Charts For 30Th May




– SBi shows value being created lower everyday
– today’s profile was within the one from 25/5
– broader range for tomorrow remains 2253- 2165
——-
– SBI formed value slightly higher after 5 days of successive lower probes
– -2286 is resistance if upmove continues
– support is at 2202

— 2265 is again resistance and 2225 is support


RIL :

Ril Mp21 Profile Charts For 30Th May





——–

– RIL formed a classic P indicating some shorts coming out of the system
– staying above 936 tomorrow, it can target 946 and 955
———-

– RIL formed a p shaped profile for the second day, indicating some more shorts coming out of the system
– above 956, it can do 963/ 970
– support is at 947
———
– RIL resisted at 956 and support at 947 failed today
– the HVN at 930 should support prices tomorrow


LT :
Lt Mp26 Profile Charts For 30Th May


– LT has a poor low at 1652 which covered the single prints of yesterday
– If 1645 holds, LT will target 1657/ 1669
– 1634 and 1622 are supports below 1645
————

– LT is in step 2 of Steidlmayer 4 step process after the big move on results.
– profile balanced for the 6th day yesterday
– above 1667, it can go to 1686/ 1704
– support is 1630
—-
– Support near 1630 held today
– broader range still within 1668-1630



ICICI Bank :

Icici Mp16 Profile Charts For 30Th May




– ICICI june has a HVN at 1037 which will resist upmoves
– today’s profile has a poor low at 1026, which is taken out will bring a move of 9 points to 1037
– 1016 is support
——–

– ICIC formed a bal profile at the top end of it’s recent range
– 1087 is possible on a move abv 1071 tomorrow
– 1054 is support

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