As evident in the chart, Banknifty is close to the major support of 23100. It is very likely to touch the support of 23100. If supported by US Election results and overall international sentiment, it can move up to 24500-25000 by month-end. In case of market sentiment turning bearish, then Banknifty will break the immediate support at 23100 and can slide all the...
11900 has been a resistance which Nifty has managed to cross multiple times. If sustains above 11910-11920 then a further up-move till 12000 is on cards. 12000 has been a strong resistance and breaking it decisively doesn't seems possible before the US Elections.
People trading ranges can utilize the 100 point advancement and subsequent retracement of 200-300...
ICICI looks good as long as above short term support of 402. Chances very high of going till 435 till 02nd Nov. Buy only if sustains above 402 for 1 hour tomorrow(28-10-2020).
Reliance has been taking support from the long term trend line as depicted in the chart. Short term trend has formed a Head and shoulders pattern which indicates reversal of uptrend. If support is strong then expect the price to hover around 2210-2250 for a few sessions. Long-only above 2280.
Glenmark at Crucial Support of 459, if breaks, then can test 418, if consolidates at 459-465 then can give move up to 540 by 20th September 2020. Wait and watch if 459-456 levels are respected.
