Nifty (6276.95, +38.15, +0.61%)
Technically, the index is looking quite bullish despite being very close to its major resistance zone just above the 6300-mark. We tend to think that once it manages to take out 6290 – 6310 supply zone it would be able to scale up even further to levels close to the 6350-mark or even higher. Chances are, we would see some more momentum coming especially when even long battered sectors like infrastructure sector stocks are also attracting buyers in the recent past. Barring the metals most indices are buoyant in varying degrees. Today is the first day of March—the history of index performances in this month since 2009 is rather mixed giving no real clue as to how the whole month would pan out. However, as of now, we start the month with 'Advantage Bulls.
Bank Nifty (10764.30, +34.30, +0.32%)
We still believe that the prospect of a test of the eventual target of the 10920-level in this current upswing in the Bank Nifty would be met in this month; however, there is a sign that the index movement suggests a bit of tiredness while leading momentum stocks like the Axis Bank continues to cruise upwards. In any case, with some help from its leading constituents it might still make it this month. Immediately, the all-important levels of 10770 through 10777 need to be taken out decisively and only then we can expect a dash at 10910 – 10920 being scaled.
Most critical levels for the day: 10770 – 10777, its immediate resistance
Strong resistance: 10827 – 10843
Major resistance: 10911 – 10920, in case it moves beyond then 11014 - 11047
Immediate support: 10723 – 10676
Strong support: 10625 - 10557
Major support: 10496 – 10431
WHAT EVER YOU EARN FROM MY CALLS PLEASE GIVE 10% PROFIT'S FOOD TO COWS AND DOGS HELP THM GOD WILL HELP YOU-!!!
Technically, the index is looking quite bullish despite being very close to its major resistance zone just above the 6300-mark. We tend to think that once it manages to take out 6290 – 6310 supply zone it would be able to scale up even further to levels close to the 6350-mark or even higher. Chances are, we would see some more momentum coming especially when even long battered sectors like infrastructure sector stocks are also attracting buyers in the recent past. Barring the metals most indices are buoyant in varying degrees. Today is the first day of March—the history of index performances in this month since 2009 is rather mixed giving no real clue as to how the whole month would pan out. However, as of now, we start the month with 'Advantage Bulls.
Bank Nifty (10764.30, +34.30, +0.32%)
We still believe that the prospect of a test of the eventual target of the 10920-level in this current upswing in the Bank Nifty would be met in this month; however, there is a sign that the index movement suggests a bit of tiredness while leading momentum stocks like the Axis Bank continues to cruise upwards. In any case, with some help from its leading constituents it might still make it this month. Immediately, the all-important levels of 10770 through 10777 need to be taken out decisively and only then we can expect a dash at 10910 – 10920 being scaled.
Most critical levels for the day: 10770 – 10777, its immediate resistance
Strong resistance: 10827 – 10843
Major resistance: 10911 – 10920, in case it moves beyond then 11014 - 11047
Immediate support: 10723 – 10676
Strong support: 10625 - 10557
Major support: 10496 – 10431
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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