Intraday study for Indian indices for 5th December 2022
Hi Good Morning
Friday we saw that pending correction which i was talking about in my previous studies and Now the base is at 18500 and i am saying this because the market took time to give the upmove till 18500 but the level from 1850 to 18900 was come as soon as we cross that 18500 so this the result of short covering and that is way i was expecting the correction and now it comes and may be with some time of consolidation we will move up again as Dow's have the range and give a good recovery from lower levels and the ended that day on a positive note and Nasdaq also give the upmove now we talk about the levels of Nifty and Banknifty
Nifty:---
the well placed support is at 18500 but we have a base above this level also as 18625-18657 range with 18650 as i level wit the resistance of 18777-18811-18889 Keep a eye on the levels
Banknifty:--
The support is placed at 42800-43100 with 43300 as a resistance and we cross the levels of 2nd resistance 43500 and trade above the 43650 then the 43300 acts as a strong support as well keep these levels for your reference
Now the sector and the Stocks
Sector:--
As mentioned previously CNXIT, CNXFINANCE, PSUBANKS, PVTBANKS, NSEREALTY, NSEAUTO, looks good with the Stocks as :--
BAJAJFIN, BAJAJFINSERV, L&T, HDFC, BIOCON, MARUTI, TECHM, AXISBANK, INFY, HCLTECH, TCS, BSOFT, LTTS, GOREJPROP, DLF AND will highlighted in the regular session
Do follow mw on Blogger will mention the link in comments
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
Friday we saw that pending correction which i was talking about in my previous studies and Now the base is at 18500 and i am saying this because the market took time to give the upmove till 18500 but the level from 1850 to 18900 was come as soon as we cross that 18500 so this the result of short covering and that is way i was expecting the correction and now it comes and may be with some time of consolidation we will move up again as Dow's have the range and give a good recovery from lower levels and the ended that day on a positive note and Nasdaq also give the upmove now we talk about the levels of Nifty and Banknifty
Nifty:---
the well placed support is at 18500 but we have a base above this level also as 18625-18657 range with 18650 as i level wit the resistance of 18777-18811-18889 Keep a eye on the levels
Banknifty:--
The support is placed at 42800-43100 with 43300 as a resistance and we cross the levels of 2nd resistance 43500 and trade above the 43650 then the 43300 acts as a strong support as well keep these levels for your reference
Now the sector and the Stocks
Sector:--
As mentioned previously CNXIT, CNXFINANCE, PSUBANKS, PVTBANKS, NSEREALTY, NSEAUTO, looks good with the Stocks as :--
BAJAJFIN, BAJAJFINSERV, L&T, HDFC, BIOCON, MARUTI, TECHM, AXISBANK, INFY, HCLTECH, TCS, BSOFT, LTTS, GOREJPROP, DLF AND will highlighted in the regular session
Do follow mw on Blogger will mention the link in comments
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
Comment:
traderharshitp13.blo...n-indices-for_5.html
Comment:
i think the correction will complete today may be in closing or overnight and then from tomorrow we will see the upmove in CNXIT
