The benchmark nifty stated to positive opening last day. Yesterday Nifty was showing volatile situation continue and also IIP effect. Nifty made a high of 5874 levels. After IIP negative response at the end Nifty close positively with the level of 5863.25 with the gaining of (+1.90%) +109.15. In that Nifty index if we see stock specific SUZLON was the gainer followed by STER. While the looser were BAJAJ-AUTO and LT. Overall breadth end advance decline ratio is very good 44/6. The next important level to watch out for tomorrow intraday trading the Nifty support level would be 5758-5653, while the resistance level would be 5921-5979.
The benchmark BSE SENSEX-30 index started positive opening on last day. And it made a high of 19574. Yesterday Bse index was showing volatile situation. At the end Bse index close positively at the level of 19534.10 with the gaining of (+1.76%) +337.76. From the sectoral front CD was the gainer followed by the REALTY, while the looser was only CG. Overall breadth of the SENSEX-30 index advance decline ratio is quite good 22/8. The next important level to watch out for tomorrow intraday trading in BSE support would be 19197-18860, while the resistance would be 19723-19912.
The Bank Nifty started positive opening on last day. Bank Nifty made a high of 11161.15. Yesterday Bank Nifty was showing volatility. At the end BANK NIFTY was closed positively and with strength at 11128.15 level with the gaining of (+2.72%) +294.60. In the banking sect oral front ICICIBANK was the gainer followed by UNIONBANK. While the looser was only BANKBARODA. And at the end breadth of the Bank Nifty's overall advance decline ratio is very good 11/1. For the intraday trading support would be at 10851-10573, while the resistance would be 11283-11439.
Higher level resistance 1040-1050 watch out.. down side support 1000 is a good base support. Down side major support 980 to be watch out.
Corrective rally will continue..... AS hold yesterday low......... however, trend is down and short covering likely.
Strong trend reversal from the lower level 2535 and consider your stop loss too and buy side.......Highly over sold and RSI trading below 20.........Weakness only close below 2535 on closing basis... till then... no problem in this counter and buy side. Today support 2630 watch out.
Short term position and buy side for target............with tight stop loss..... Over all trend is down and any up side to exit long too.
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