A EOD report from Vtrender Live

Here is an analysis posted every evening at our subscriber site www.vtrender-2.com.


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The Italics are the comments from the previous day.


Bank Nifty :



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- Clearly the mkt stalled at the upper end of yesterday's profile
- Momentum from the DD seems to be losing
- above 11020 seems to be a clear move to 11144
- but mkt now seems to be a "p' in the 2 day profile.

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- The BN did not find willing sellers below val.
- first part was the 80 % rule from VAL to VAH.
- strength above the DD took the market straight up to 11144.
- 11008/ 11064 are new short term supports

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Nifty :





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- Symmetry came in through balance profile
- 2 day profile is another pointer to a move lower to 5435
- strength above highs will lead to the previous 5567/ 5577.

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- good volumes seen above 5508
- a DD pattern is a sign of continuity
- a previous failure at 5567 needs to be considered
- 5508/ 5494 are short term supports.



SBI :


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-Profile shows single print buying at 2721.

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-- 2787 almost hit.
-- a low volume zone between 2787 and 2841 now.
-- this market can easily rush up those points between the levels.
-- 2718 is minor support.

RIL :




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- RIL operated completely in the upper end of the bracket.
- This profile is also balanced and should give a directional move tomorrow.
- In a weak market rejection at 953, should set up good stops with a 3 point stop.

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- Reliance did come off the bracket and should move higher
- Do not expect the pace to be on the higher side as it moves away from the congestion zone
- 943 will be support on downside.


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I will be back with a report EOD.