Intraday study for Indian indices for 20th March 2023
Hi
Good Morning
on Friday we a saw a upmove from the market and market consolidate whole day and the up moves comes at closing till the level of our resistance 17139 as i told you that the Friday upmove is false and just to trap the buyers in falling market
As the US market fall about the 400 points
The SGXNIFTY is also in red of 144 points
The India VIX is stable at some extent but it had to move till 18 slowly
Now we talk about the Nifty and Banknifty:--
Nifty:--
The support is at 16773-16825 with the 17139-17225 is a good resistance no change in this
Banknifty:--
The support is at 39272-38900 with the resistance of 39650-39850 no change as we will see the gapdown
Sector and Stock Specific ( SSS ):--
As the FED rate increases hikes are in consideration and also the hikes might be more than expected and the banks crises in US as the CS has offer FROM UBS at very low rate of share price then Friday closing The FII has the long below 11% so we might see some correction in opening and if the FII start short covering then we will see the upmove hence the whole move will be imported so we will have more opportunities for building long term portfolio.
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
Good Morning
on Friday we a saw a upmove from the market and market consolidate whole day and the up moves comes at closing till the level of our resistance 17139 as i told you that the Friday upmove is false and just to trap the buyers in falling market
As the US market fall about the 400 points
The SGXNIFTY is also in red of 144 points
The India VIX is stable at some extent but it had to move till 18 slowly
Now we talk about the Nifty and Banknifty:--
Nifty:--
The support is at 16773-16825 with the 17139-17225 is a good resistance no change in this
Banknifty:--
The support is at 39272-38900 with the resistance of 39650-39850 no change as we will see the gapdown
Sector and Stock Specific ( SSS ):--
As the FED rate increases hikes are in consideration and also the hikes might be more than expected and the banks crises in US as the CS has offer FROM UBS at very low rate of share price then Friday closing The FII has the long below 11% so we might see some correction in opening and if the FII start short covering then we will see the upmove hence the whole move will be imported so we will have more opportunities for building long term portfolio.
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
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