Hi good morning
As we discussed yesterday the market open its major resistance and maintain that level and we see 17900 in intraday but apart the data is positive what happens that market shows profit booking so there is a news that Swedish C. Bank increase the rate by 1 % so market shows profit booking
For today the first level is 17717 -17690 which is the major support and if breach then it is the major resistance so this 17717 is very crucial level and the 2nd support is 17575 - 17620 we may see a bounce from there
In bank nifty 40800-41157 is the support and 41800 is resistance
If we talk about then on yesterday data the Pharma is looking good USL, AXIS BANK FMCG, ITC , cement , AUTO is looking good refer the intraday update of mine n previous link also
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 discussed yesterday the market open its major resistance and maintain that level and we see 17900 in intraday but apart the data is positive what happens that market shows profit booking so there is a news that Swedish C. Bank increase the rate by 1 % so market shows profit booking
For today the first level is 17717 -17690 which is the major support and if breach then it is the major resistance so this 17717 is very crucial level and the 2nd support is 17575 - 17620 we may see a bounce from there
In bank nifty 40800-41157 is the support and 41800 is resistance
If we talk about then on yesterday data the Pharma is looking good USL, AXIS BANK FMCG, ITC , cement , AUTO is looking good refer the intraday update of mine n previous link also
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
see highlighted few days ago that nifty has the strength than bank niftyNote
17770 approx. is that magic level which is 35 points from now upNote
10+ points recovery seen from that support level which i have mentioned in the morning study no the crucial level is 17811 a candle closure above this level triggers a calls short covering because we have very low call writing below 17800 so 17850 may be a partial profit book zone only if we broke that level today or tomorrow but first we have to cross 17888
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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.