Hi Good Morning
indices shows the good move in the weekly expire yesterday and banknifty closes al time high the nifty consolidate as the IT , Pharma and reliance didn't support well and the huge short covering is not visible in nifty
After the correction of a week and consolidation the US market gives the up move with the Nasdaq up by 1% So today the momentum comes with the It side along with banks
Now we talk about the nifty and banknifty
Nifty:--
The Nifty has the well placed support at 18500-18550 and the 18575 if broke the level of 18627 then huge short covering will be visible in induce and the next zone of resistance are 18690-18711-18777-81811
Banknifty:---
The support of banknifty is at 43100-43300 and then the resistance of 43800-43950-44100 in the the 43500-43650 maybe the range of consolidation
Sector and Stocks:--
The banks, PVT> AXIS, ICICI, HDFC and PSU looks good along with IT INFY, Auto, cement and Midcap, Capital good L&T
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 giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
indices shows the good move in the weekly expire yesterday and banknifty closes al time high the nifty consolidate as the IT , Pharma and reliance didn't support well and the huge short covering is not visible in nifty
After the correction of a week and consolidation the US market gives the up move with the Nasdaq up by 1% So today the momentum comes with the It side along with banks
Now we talk about the nifty and banknifty
Nifty:--
The Nifty has the well placed support at 18500-18550 and the 18575 if broke the level of 18627 then huge short covering will be visible in induce and the next zone of resistance are 18690-18711-18777-81811
Banknifty:---
The support of banknifty is at 43100-43300 and then the resistance of 43800-43950-44100 in the the 43500-43650 maybe the range of consolidation
Sector and Stocks:--
The banks, PVT> AXIS, ICICI, HDFC and PSU looks good along with IT INFY, Auto, cement and Midcap, Capital good L&T
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 giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
Note
The Nifty Down move is sponsored by CNXIT and CNXIT's Down move is sponsored but the HCLTECH
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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.