Hi Good Morning
As we see the Friday huge selloff which is initiated by the news report on some stocks and the we tested the upper range and then fall from that level to the lower end of the range followed by the long unwinding on the monthly expire
On the other hand the US market is up which is supported by the positive data GDP data
The INDIAVIX is up and near about 16 from the low of 13
The SGXNIFTY was showing the gapup in morning nut by the time i am writing this the market again fall towards the lower end of range whose support near at 17717.5 so this is the range of the market
Now we talk about the NIFTY and Banknifty
Nifty:--
The support of nifty is placed at 17717 with the resistance of 17888-17950-18050-18177 this is the whole range of market whose ultimate support at 17528
Banknifty:--
The banknifty fall is more as the HDFCBANK hits the 1700 one and fall from there so the support is at 40500-40700 range with the resistance of 41000-41300-41500 and so on
Sector and Stock specific (SSS):-
As the Nasdaq perform and the good results from the Autos the sectors ae IT and Auto which has to perform well and this correction has good for accumulating the sector leaders for long/short term
The market has to be consolidating on this level or may attempt for the up more with little range as the Friday factor comes in play
watch the range
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
As we see the Friday huge selloff which is initiated by the news report on some stocks and the we tested the upper range and then fall from that level to the lower end of the range followed by the long unwinding on the monthly expire
On the other hand the US market is up which is supported by the positive data GDP data
The INDIAVIX is up and near about 16 from the low of 13
The SGXNIFTY was showing the gapup in morning nut by the time i am writing this the market again fall towards the lower end of range whose support near at 17717.5 so this is the range of the market
Now we talk about the NIFTY and Banknifty
Nifty:--
The support of nifty is placed at 17717 with the resistance of 17888-17950-18050-18177 this is the whole range of market whose ultimate support at 17528
Banknifty:--
The banknifty fall is more as the HDFCBANK hits the 1700 one and fall from there so the support is at 40500-40700 range with the resistance of 41000-41300-41500 and so on
Sector and Stock specific (SSS):-
As the Nasdaq perform and the good results from the Autos the sectors ae IT and Auto which has to perform well and this correction has good for accumulating the sector leaders for long/short term
The market has to be consolidating on this level or may attempt for the up more with little range as the Friday factor comes in play
watch the range
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
