Hi good morning
As we are seeing the consolidating move in the nifty refer my charts as you can see the strong support is placed around 17500 more precisely 17525 and the strong resistance is placed around 17700 and the range is 17690-17717 So we have to go up above successful closure of candle above this level and till now we are in range so be in range market come down from 17717 and goes up from 17525 So this is the overall range and data is suggesting because it is the first day of new weekly expire so we have a limited data
the bank nifty support range is around 40350-40525 and the resistance is around 40800-41250
the sector and stock is FMCG again and the mid cap defensive like FMCG pharma may be the L&T show the up move the Reliance USL AXIS BANK is at bounce back level the cement the media and the pharma and we are not to forget the Auto sector all shows the good bounce with above levels
Watch the IT sector the major support is at 26500
Refer previous studies also and share
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here i am not SEBI Registered
As we are seeing the consolidating move in the nifty refer my charts as you can see the strong support is placed around 17500 more precisely 17525 and the strong resistance is placed around 17700 and the range is 17690-17717 So we have to go up above successful closure of candle above this level and till now we are in range so be in range market come down from 17717 and goes up from 17525 So this is the overall range and data is suggesting because it is the first day of new weekly expire so we have a limited data
the bank nifty support range is around 40350-40525 and the resistance is around 40800-41250
the sector and stock is FMCG again and the mid cap defensive like FMCG pharma may be the L&T show the up move the Reliance USL AXIS BANK is at bounce back level the cement the media and the pharma and we are not to forget the Auto sector all shows the good bounce with above levels
Watch the IT sector the major support is at 26500
Refer previous studies also and share
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here i am not SEBI Registered
Note
S1 on major stocks are broken and supporting from S2 in indices also watch carefully See HCL TECH AND INFY i am highlighting this a day ago
Note
i also highlighted that the bank nifty has the weakness as compare to nifty and you can see we are from 17800 to17450 but on bank nifty from 41850 to 39850Note
reliance is at bouncing back level 2460Note
see the CNXIT from well supported level 26500....Note
bank nifty is not stopping by breaking its support now to psychological support is 39500..for nifty is 17350-17375...Note
the day is to watch 45 min charts along with 10DMANote
nifty s3 1734Note
17341* but both ithe indices now on S3
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.