Intraday study for Indian indices for 18th November 2022
Hi Good Morning
yesterday there is a consolidating session in the Indian markets and we are in a well defined range of 18300-18400 on spot with some points deviation on up side and we see that there is a short buildup in the major stocks specially IT and Fin which takes the indices on negative note in the closing and when the global markets open and Indian are closed we see that the US down open in the Dow's and the Nasdaq but they both give the recovery from that levels and managed to close their day's high and good move in the major stocks the reversal from the 10500 levels on Nasdaq and the 11000 on the Futures.
Now we talk about the Indian market levels
Nifty:--
nifty has the strong support of the 18257-18275 and managed to hold that yesterday too and the support for the long hold and the addition for long is the best level at 18050-18075-18150 this is best level for the bounce in near term with the resistance of 18425-18477-81525
Banknifty:--
Bank nifty has the support of 41800-42100-42300 and the resistance is at 42800-42950-43100 but i think it will take some time to cross this levels and go in consolidation
Now the sector and stocks
as we see the number of F&O ban stocks are more so it is the sign of profit booing and because we are in a strong upside we may see some consolidation like we are seeing from past 3 days
the stocks are as mentioned yesterday have a look of that idea for that
Major are AXISBANK, ICICIBANK, KOTAKBANK, L&T, INFY, TECHM, WIPRO, DLF, GODREJPROP, FMCG, CEMENT, CNXIT, REALTY, PVTBANKS looks good
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 SEBI Registered
yesterday there is a consolidating session in the Indian markets and we are in a well defined range of 18300-18400 on spot with some points deviation on up side and we see that there is a short buildup in the major stocks specially IT and Fin which takes the indices on negative note in the closing and when the global markets open and Indian are closed we see that the US down open in the Dow's and the Nasdaq but they both give the recovery from that levels and managed to close their day's high and good move in the major stocks the reversal from the 10500 levels on Nasdaq and the 11000 on the Futures.
Now we talk about the Indian market levels
Nifty:--
nifty has the strong support of the 18257-18275 and managed to hold that yesterday too and the support for the long hold and the addition for long is the best level at 18050-18075-18150 this is best level for the bounce in near term with the resistance of 18425-18477-81525
Banknifty:--
Bank nifty has the support of 41800-42100-42300 and the resistance is at 42800-42950-43100 but i think it will take some time to cross this levels and go in consolidation
Now the sector and stocks
as we see the number of F&O ban stocks are more so it is the sign of profit booing and because we are in a strong upside we may see some consolidation like we are seeing from past 3 days
the stocks are as mentioned yesterday have a look of that idea for that
Major are AXISBANK, ICICIBANK, KOTAKBANK, L&T, INFY, TECHM, WIPRO, DLF, GODREJPROP, FMCG, CEMENT, CNXIT, REALTY, PVTBANKS looks good
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 SEBI Registered
Comment:
why i wrote the yesterdays mentioned calls because the day is eaten by the call and put writers and we remain in consolidation and didn't see any move se refer below study 17th Nov. 2022
Comment:
see Axis bank fast upmove 860 CE from 10.5 to 13
