Below 16100, NIFTY will get support at each 100 points gap, So, as per chart now 16700 in spot will be very critical support level which will decide overall trend setup for coming days.
As per the chart on hourly basis NIFTY is showing little bit bearishness. Though 16400 in spot will be next strong support zone where it took resistance for multiple times previously. Below this support area, it may fall towards 16200-16150 which is though not very strong support area before the major demand area as shown in the chart. On upside 16800 will strong...
The weekly chart structure of INDUSTOWER is looking great backed by heavy volume based buying for a upside potential of 15-20% plus in the days to come as long as it sustains above 260 on weekly closing basis. The first hurdle, it has to face at the zone around 285-300. Above 300 it will intensify its momentum gradually to the target range given on the...
After studying multiple time frames, we can see a non trending picture in BHARTIARTL. But we see a strong support area near 580 and resistance zone @606-610. Crossing & closing above 610 on daily basis will bring new ATH sooner in BHARTIARTL.
On hourly chart it's clearly visible a symmetrical triangle formation in BANKNIFTY spot price. Closing above 36800 on hourly basis may bring the range 37000-37300 plus by next weekly expiry on 02/09/2021. Stop loss will be 35500 on hourly closing basis. Due to high volatility and relative weakness in banknifty one must be proactive and alert while initiating fresh...
NAM-IND(NIPPON) can try to hit 414 tomorrow where we see next resistance above 400. Above 414 we can see fast and furious move towards 430 plus again. Stop loss must be kept @387.
Above 35200 in spot, BANKNIFTY can try to enter in the range 35400-35600 for today. But 35600 will be strong supply zone. Only sustains and closing above 35600, it can try to revisit 36000-36200 again ahead of expiry. keep strict sl below 35200 for today.
I doubt on sustainability of gap up opening above 100-150 points in NIFTY. There will be huge selling pressure likely to be emerged at 16570-16600 in spot area. NIFTY may try to fill the intraday gap during the day towards 16450-16400 again...just an own view, not a trading recommendation :-)
