Nifty (6200.05, +13.95, +0.23%)
The index has managed to close at the 6200-mark; it has not been able to get past the critical supply zone boundary of 6212 on closing basis though intraday it did manage to post a high of 6216.85. Now, in order to move up it needs to clear this 6212 decisively—however, it looks as if the range between 6202 through 6217 would be the new supply zone for the day; our understanding is that while the bias of the price movement during the day could be moderately upward but it would be a small range day mostly. In case, any directional swing happens it would face resistance between 6235 and 6244 while on the downside the same could be said for 6165 to 6158 for support.
ranadeep ghoshal: Most critical levels for the day: 6200 – 6217, its immediate resistance as well
Strong resistance: 6235 – 6244
Next strong resistance: 6249 – 6263
Major resistance: 6291 – 6310
Strong support: 6176 – 6158
Major support: 6143 – 6129
Bank Nifty (10666.75, -16.75, -0.16%)
The bank index failed to get past the strong resistance above 10770-mark. This zone would continue to act as a strong resistance for the index during the trading session in case the Bank Nifty manages to come close to it. Its closing is quite weak and may show some more correction during the day if the 10625 gets taken out again in the intraday price swings with good volume activity; however, till such time that happens the bank bulls does not need to worry so much. Today, staying above 10690 would be quite crucial if it were to really move up else any failed attempt to cross this hurdle would, most likely, see quite a bit of selling and a retest of 10632 – 10586 support area might well happen.
Most critical levels of the day: 10682 - 10690, its immediate resistance
Strong resistance: 10708 – 10735
Major resistance: 10752 – 10777
Strong support: 10632 – 10586
Major support: 10586 – 10488
WHAT EVER YOU EARN FROM MY CALLS PLEASE GIVE 10% PROFIT'S FOOD TO COWS AND DOGS HELP THM GOD WILL HELP YOU-!!!
The index has managed to close at the 6200-mark; it has not been able to get past the critical supply zone boundary of 6212 on closing basis though intraday it did manage to post a high of 6216.85. Now, in order to move up it needs to clear this 6212 decisively—however, it looks as if the range between 6202 through 6217 would be the new supply zone for the day; our understanding is that while the bias of the price movement during the day could be moderately upward but it would be a small range day mostly. In case, any directional swing happens it would face resistance between 6235 and 6244 while on the downside the same could be said for 6165 to 6158 for support.
ranadeep ghoshal: Most critical levels for the day: 6200 – 6217, its immediate resistance as well
Strong resistance: 6235 – 6244
Next strong resistance: 6249 – 6263
Major resistance: 6291 – 6310
Strong support: 6176 – 6158
Major support: 6143 – 6129
Bank Nifty (10666.75, -16.75, -0.16%)
The bank index failed to get past the strong resistance above 10770-mark. This zone would continue to act as a strong resistance for the index during the trading session in case the Bank Nifty manages to come close to it. Its closing is quite weak and may show some more correction during the day if the 10625 gets taken out again in the intraday price swings with good volume activity; however, till such time that happens the bank bulls does not need to worry so much. Today, staying above 10690 would be quite crucial if it were to really move up else any failed attempt to cross this hurdle would, most likely, see quite a bit of selling and a retest of 10632 – 10586 support area might well happen.
Most critical levels of the day: 10682 - 10690, its immediate resistance
Strong resistance: 10708 – 10735
Major resistance: 10752 – 10777
Strong support: 10632 – 10586
Major support: 10586 – 10488
WHAT EVER YOU EARN FROM MY CALLS PLEASE GIVE 10% PROFIT'S FOOD TO COWS AND DOGS HELP THM GOD WILL HELP YOU-!!!
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