Nifty (6238.80, +38.75, +0.62%)
Today, the market may show strength if it were to move up it would face supply pressure between 6244 and 6259—this is a strong supply zone and once crossed the next target zone would be 6291 and 6310. However, on the first day of the March settlement, chances are we might see lower levels in the initial hours unless there are any major positive cues either domestically or internationally. Initial good support zone would be between 6209 and 6186. Only if this range is violated with good volume based selling expect further lower levels.
Most critical levels for the day: 6244 – 6259, its strong resistance zone
Next strong resistance: 6291 – 6310
Major resistance: 6338 – 6362
Strong support: 6209 – 6186
Major support: 6147 – 6122
Bank Nifty (10730.40, +63.65, +0.60%)
If the Bank Nifty were to move up from here then it needs to cross the range between 10771 – 10777 levels decisively. In so doing, it should also not fall below 10681 – 10634 range in any profit taking led sell off. If that happens, the index and the bank stocks would show considerable weakness while, on the other hand, sustaining above 10777 would show real strength to climb up to 10920 – 10950 major supply zone and the target for this pull back rally.
Most critical levels for the day: 10697 – 10777
Immediate support: 10681 – 10634
Strong support: 10562 – 10522
Major support: 10418 – 10317
Strong resistance: 10771 – 10777
Major resistance: 10920 - 10950
WHAT EVER YOU EARN FROM MY CALLS PLEASE GIVE 10% PROFIT'S FOOD TO COWS AND DOGS HELP THM GOD WILL HELP YOU-!!!
Today, the market may show strength if it were to move up it would face supply pressure between 6244 and 6259—this is a strong supply zone and once crossed the next target zone would be 6291 and 6310. However, on the first day of the March settlement, chances are we might see lower levels in the initial hours unless there are any major positive cues either domestically or internationally. Initial good support zone would be between 6209 and 6186. Only if this range is violated with good volume based selling expect further lower levels.
Most critical levels for the day: 6244 – 6259, its strong resistance zone
Next strong resistance: 6291 – 6310
Major resistance: 6338 – 6362
Strong support: 6209 – 6186
Major support: 6147 – 6122
Bank Nifty (10730.40, +63.65, +0.60%)
If the Bank Nifty were to move up from here then it needs to cross the range between 10771 – 10777 levels decisively. In so doing, it should also not fall below 10681 – 10634 range in any profit taking led sell off. If that happens, the index and the bank stocks would show considerable weakness while, on the other hand, sustaining above 10777 would show real strength to climb up to 10920 – 10950 major supply zone and the target for this pull back rally.
Most critical levels for the day: 10697 – 10777
Immediate support: 10681 – 10634
Strong support: 10562 – 10522
Major support: 10418 – 10317
Strong resistance: 10771 – 10777
Major resistance: 10920 - 10950
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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