BANK NIFTY ANALYSIS

Pre market view:

Bank Nifty Has reached its crucial support of 18050. If supported intial resistances are -18150 crossing which next major resistance is 18350 -50 DMA.

 

Trade Plan :

Buy above 18100 SPOT / 18200 Futures SL EOD close below yesterday's low. Book out at 18350 -50 DMA.

BANK NIFTY ANALYSIS

Intraday Update 2.00 PM

The Diamond pattern became a busted pattern and again today support well found at 18830 - SPOT levels.
19050 spot- knocking for the fourth consecutive day - CAUTION with SHORTS.

Tatamotors analysis

Intraday Update 1.30PM:

Channel Breakdown below 378. If supported then again towards 385.

Tatamotors Analysis:

Tatamotors made a High of 383 yesterday - thereby reaching the channel resistance of weekly and Day charts.

Breakout above 383 - Channel breakout would be bullish.

TATAMOTORS ANALYSIS

Tatamotors Pre Market:

Tatamotors has closed exactly at a crucial level of 360 - as per charts. Breakout above 361 - would swiftly lead to 370-374. Breakdown below 360 would drag it to 348 - 345. Today being the Quaterly result of Tatamotors it would play a major role.

NIFTY ANALYSIS

Nifty has closed below the Day HEMA but above all other parameters. As mentioned earlier, yesterday from Day HEMA - it went down near Day LEMA and again back to day HEMA. - this trading range between Day HEMA and DAY LEMA - a very narrow range of 40 points must be resolved before any substantial move.

With the present scenario - it would be BUY near DAY LEMA @ +- 20 points SL OR sell NEAR DAY HEMA +-20 points SL.

Factors to be considered for a Buy:
1. Day/Hour Channel support @ 6275-70 - near DAYLEMA
2. Rising Three Candle Pattern - invalid below 6270.
3. Weekly TF is in buy mode

Factors to be considered for a sell:
1. EOD closed below DAY HEMA

NIFTY ANALYSIS

Monthly Chart:

Break of 5950 levels and weekly close below it would bring down Nifty to the CHANNEL support