Hi Good Morning
Yesterday we saw that the market tested the support level and because of the expire we saw the short covering from the lower level and the formation is still the lower low on Daily basis
The US inflation comes as estimate and the market jumps and closes in positive The SGXNIFTY is showing the positive to flat opening the results of major it has its impact
Now we talk about the Nifty and Banknifty
Nifty:--
The support is placed at 17777-17717 with the major 200DMA around the 17500 and the resistance at 17925-18025 as the biggest range but the Day may belongs to consolidation with negative note
Banknifty:--
The support of banknifty is at 41500-41800-42000 with the resistance of 42300-42500-42650
Sector and Stock Specific (SSS):--
The Major sector looks good as the market is correcting and the time wise correction is also going as marker consolidate in the range so for the short term it is good opportunity for accumulation look at the sector leaders and other mentioned sectors in the previous studies
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
Yesterday we saw that the market tested the support level and because of the expire we saw the short covering from the lower level and the formation is still the lower low on Daily basis
The US inflation comes as estimate and the market jumps and closes in positive The SGXNIFTY is showing the positive to flat opening the results of major it has its impact
Now we talk about the Nifty and Banknifty
Nifty:--
The support is placed at 17777-17717 with the major 200DMA around the 17500 and the resistance at 17925-18025 as the biggest range but the Day may belongs to consolidation with negative note
Banknifty:--
The support of banknifty is at 41500-41800-42000 with the resistance of 42300-42500-42650
Sector and Stock Specific (SSS):--
The Major sector looks good as the market is correcting and the time wise correction is also going as marker consolidate in the range so for the short term it is good opportunity for accumulation look at the sector leaders and other mentioned sectors in the previous studies
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
