Hi Good Morning
As we see yesterday the market works as per the expectation it holds the level of 17000 in closing basis the whole day belongs tp the consolidation and we have 2 trades of the expire related as 50 points move from 17030 to 17070 and because of negative data we again fall in closing towards 17000
similar trend is seen in bank nifty
So for today as we are entering in the new expire so we have less data but as we see 17000 is a good support level and on banknifty 38500 is the good support level
If we factor in the global ques then we are seeing the dow's up by 1400 points in its intraday low and we are seeing the huge gap up on the SGX nifty about 350 points up
So today view is the book the profit if you carry longs on my preferred stocks in the morning till 10 then we may have a consolidation session till the 2pm then we may see a up move
So refer the previous study (13th October) for the preferred stocks i am mention some of its as
INFY HCLTech Axis bank Kotak bank ICICI bank McDowell FMCG reliance HDFC twins and Bajaj twins
Kotak bank is the most preferred till its Results
We are over short and the market texture suggest the huge short covering
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 see yesterday the market works as per the expectation it holds the level of 17000 in closing basis the whole day belongs tp the consolidation and we have 2 trades of the expire related as 50 points move from 17030 to 17070 and because of negative data we again fall in closing towards 17000
similar trend is seen in bank nifty
So for today as we are entering in the new expire so we have less data but as we see 17000 is a good support level and on banknifty 38500 is the good support level
If we factor in the global ques then we are seeing the dow's up by 1400 points in its intraday low and we are seeing the huge gap up on the SGX nifty about 350 points up
So today view is the book the profit if you carry longs on my preferred stocks in the morning till 10 then we may have a consolidation session till the 2pm then we may see a up move
So refer the previous study (13th October) for the preferred stocks i am mention some of its as
INFY HCLTech Axis bank Kotak bank ICICI bank McDowell FMCG reliance HDFC twins and Bajaj twins
Kotak bank is the most preferred till its Results
We are over short and the market texture suggest the huge short covering
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
the time is 11:14 and market is moving accordingly and as mentioned and our stocks are top gainers of the indices and also the INFY is 5% up the and if it crosses 1505 then a huge short covering till 1540 may comes todayNote
Kotak bank at days high 1851 will confirm another breakout when give 15min candle closure above 1856Note
good level for buying AXIS BANK from here 795
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Related publications
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.