Nifty (6036.30, +13.90, +0.23%)
Unless the Nifty clears the 6050 through 6063 range early this morning it would be difficult to commit on the long side since the rally so far has been quite anemic and we have not seen any consistent buying pattern in the latest pullback. Right, till now, it is just a pullback and the rally is acutely vulnerable to further fall since one category of major players—the FIIs—are hardly playing ball on the long side. In any case, as we said earlier, we need a firm close above the 6129 – 6143 range as a confirmation of a real uptrend even if for the short term. Today, any sustained campaign below 6030-level would prompt the Nifty to retest 6000 – 5975 range again.
Most critical levels for the day: 6030 – 6045
Strong resistance: 6063 – 6091
Major resistance:
ranadeep ghoshal: Most critical levels of the day: 10205 – 10238
Strong resistance: 10270 – 10316
Next strong resistance: 10360 – 10407
Major resistance: 10560 – 10625
Strong support: 10130 – 10010
Major support: 9910 - 9850
Bank Nifty (10205.20, -26.45, -0.26%)
We are now quite skeptical about this recovery; we tend to think we are headed to see another fall here shortly. Unless the Bank index clears the supply zone between 10209 and 10238—levels, we are likely to see the bears mounting a fresh offensive. Till such time, the above levels are taken out, we should not be expecting further higher technical levels. On the contrary now, any fall below 10010 or even 9850 eventually could bring in the onset of a medium term downtrend in banking stocks.
ranadeep ghoshal: Most critical levels of the day: 10205 – 10238
Strong resistance: 10270 – 10316
Next strong resistance: 10360 – 10407
Major resistance: 10560 – 10625
Strong support: 10130 – 10010
Major support: 9910 - 9850
WHAT EVER YOU EARN FROM MY CALLS PLEASE GIVE 10% PROFIT'S FOOD TO COWS AND DOGS HELP THM GOD WILL HELP YOU-!!!
Unless the Nifty clears the 6050 through 6063 range early this morning it would be difficult to commit on the long side since the rally so far has been quite anemic and we have not seen any consistent buying pattern in the latest pullback. Right, till now, it is just a pullback and the rally is acutely vulnerable to further fall since one category of major players—the FIIs—are hardly playing ball on the long side. In any case, as we said earlier, we need a firm close above the 6129 – 6143 range as a confirmation of a real uptrend even if for the short term. Today, any sustained campaign below 6030-level would prompt the Nifty to retest 6000 – 5975 range again.
Most critical levels for the day: 6030 – 6045
Strong resistance: 6063 – 6091
Major resistance:
ranadeep ghoshal: Most critical levels of the day: 10205 – 10238
Strong resistance: 10270 – 10316
Next strong resistance: 10360 – 10407
Major resistance: 10560 – 10625
Strong support: 10130 – 10010
Major support: 9910 - 9850
Bank Nifty (10205.20, -26.45, -0.26%)
We are now quite skeptical about this recovery; we tend to think we are headed to see another fall here shortly. Unless the Bank index clears the supply zone between 10209 and 10238—levels, we are likely to see the bears mounting a fresh offensive. Till such time, the above levels are taken out, we should not be expecting further higher technical levels. On the contrary now, any fall below 10010 or even 9850 eventually could bring in the onset of a medium term downtrend in banking stocks.
ranadeep ghoshal: Most critical levels of the day: 10205 – 10238
Strong resistance: 10270 – 10316
Next strong resistance: 10360 – 10407
Major resistance: 10560 – 10625
Strong support: 10130 – 10010
Major support: 9910 - 9850
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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