Hi Good Morning
Yesterday market again touched its base and then bounces back and may be the indices going to touched the breakout level of 17777 and the worst is it goes towards the 17500 Around the 200DMA which is the major support of the rally and it has the strong bounce
The US market closes in positive yesterday because of the statement of FED chairman And or that the IT may be positive
The SGXNIFTY is indicating the opening as flat
Now we talk about the Nifty and Banknifty
Nifty:--
The support of nifty is at 17777-17850 which is the low of past two down move and the ultimate support is at 17500
Banknifty:--
The support id at 41800-41650-41300 these are the level of heavy support and the 5%-7% correction of the rally
Sector and Stock Specific (SSS):--
As the indices breaking the major levels because of the huge selling of FII the market discounts before the budget and the results and then the stocks looks good for the short term and try to watch them at the mentioned level of indices the view is up after the correction which is time and price correction
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 market again touched its base and then bounces back and may be the indices going to touched the breakout level of 17777 and the worst is it goes towards the 17500 Around the 200DMA which is the major support of the rally and it has the strong bounce
The US market closes in positive yesterday because of the statement of FED chairman And or that the IT may be positive
The SGXNIFTY is indicating the opening as flat
Now we talk about the Nifty and Banknifty
Nifty:--
The support of nifty is at 17777-17850 which is the low of past two down move and the ultimate support is at 17500
Banknifty:--
The support id at 41800-41650-41300 these are the level of heavy support and the 5%-7% correction of the rally
Sector and Stock Specific (SSS):--
As the indices breaking the major levels because of the huge selling of FII the market discounts before the budget and the results and then the stocks looks good for the short term and try to watch them at the mentioned level of indices the view is up after the correction which is time and price correction
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
