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LKP Securities

Published on 22/10/2021 8:58:34 AM

Index opened a day with good gap up but unable to hold highs for long & witnessed profit booking with given close at 18178 with loss of half percent after showing a volatile session. In last one hour index has witnessed strong pull back from good support zone of 18100 which is going to act again good support area for coming sessions followed by 18k mark also longs can be hold until nifty is managing above said levels and on the higher side immediate resistance is formed near 18280-18350 zone & fresh move possible only above 18400 zone. Nifty bank closed a day above 40k mark with gains of more than one percent, immediate support for nifty bank is coming near 39900-39700 zone & resistance is coming near 40200-40500 zone.

LKP Securities

Published on 21/10/2021 8:46:13 AM

Sharp selloff continued in index for second consecutive day & closed a day at 18267 with loss of nearly one percent forming a bearish candle again on daily chart. Index has reached to good support zone of 18200-18140 if managed to hold above said levels we may see some swift pullback so said levels will be buying area with overall stop out level of 18100 zone & on the higher side strong hurdle is formed near 18350-18450 zone, fresh move in index may witness only if sustain above 18450 zone. Nifty bank closed a day at 39518 with minimal loss & formed a doji candle, immediate support for nifty bank is coming near 39300-38900 zone and resistance is coming near 39700-40000 zone.

LKP Securities

Published on 19/10/2021 8:55:43 AM

Nifty again closed a day on fresh levels at 18477 with gains of nearly one percent and formed a doji candle pattern on daily chart which represents indecision in the markets. Going forwards immediate support is coming near 18450-18350 zone traders can wait for good dip near mentioned supports to add more longs with overall stop out level of 18300 zone and resistance is formed near 18525-18600 zone fresh move possible only if index sustain above 18500 zone. Nifty bank closed a day at 39685 with gains of nearly one percent, immediate support for nifty bank is coming near 39500-39300 zone & resistance is coming near 39900-40000 zone.

LKP Securities

Published on 14/10/2021 8:41:38 AM

One more positive session & index closed a day on fresh highs at 18161 with gains of nearly one percent and formed a bullish candle for third consecutive session showing strength. Index has shifted its immediate support to 18100-18040 zone so existing longs can be hold with keeping trailing stop out level below 18k mark also any dip near mentioned support zone will be fresh buying opportunity for the overall targets of 18300-18500 zone on the higher side, immediate hurdle is formed near 18200-18300 zone. Nifty bank closed a day at 38636 with gains of nearly half percent, immediate support for nifty bank is coming near 38500-38200 zone & resistance is coming near 38800-39000 zone.

LKP Securities

Published on 13/10/2021 8:50:24 AM

Index managed to give fresh close at 17994 with gains of nearly half percent and formed a bullish candle on daily chart. Strong pullback has been witnessed from strong support zone of 17900 now going forwards immediate support is shifted to 17950-17900 zone again any dip near mentioned support zone will be good buying opportunity & if index managed to sustain above said levels we may see next move towards immediate hurdle zone of 18030-18100 zone. Nifty bank closed a day at 38536 with gains of half a percent, immediate support for nifty bank is coming near 38350-38100 zone & resistance is coming near 38700-38900 zone.

LKP Securities

Published on 12/10/2021 8:57:31 AM

Index managed to give fresh breakout and fresh close at 17955 with gains of nearly half percent forming a bullish candle on daily chart. Index has shifted its support to 17900-17850 zone any dip near said levels will be again buying opportunity as index has witnessed fresh breakout with keeping stop out level below 17800 zone & if index sustain above said levels then we may head towards 18300 zone in near term, immediate hurdle is formed near 18030-18100 zone. Nifty bank closed a day at 38294 with gains of more than one percent, immediate support for nifty bank is coming near 38100-37800 zone & resistance is coming near 38500-38700 zone.

LKP Securities

Published on 8/10/2021 8:41:43 AM

Index opened a day with strong gap up but again took hurdle near previous swing high & witnessed small profit booking and closed a day at 17790 with gains of nearly one percent. Going forwards immediate & strong hurdle is coming near 17850-17930 zone any rise near mentioned resistance zone will be profit booking opportunity & fresh breakout will be above 17950 zone, supports for nifty is coming near 17730-17650 zone also any dip near said levels can be use as fresh buying opportunity. Nifty bank closed a day at 37753 with gains of half a percent, immediate support for nifty bank is coming near 37500-37200 zone & resistance is coming near 38000-38300 zone.

LKP Securities

Published on 7/10/2021 8:56:15 AM

Strong pressure has been witnessed in the nifty since start of the day resulting index managed to closed a day at 17646 with loss of more than one percent and formed a bearish candle after forming two consecutive bullish candle previously. Index has decisively breached majority support zone now going ahead immediate support zone is coming near 17600-17500 zone if managed to sustain above said levels one can expect a swift pullback and now good resistance is formed near 17700-17770 zone where again we may see some sort of profit taking. Nifty bank closed a day at 37522 with loss of half percent, immediate support is coming near 37400-37100 zone & resistance is coming near 37850-38100 zone.

LKP Securities

Published on 5/10/2021 8:42:26 AM

Index opened a day with good gap & managed to hold its bullish stream throughout day with given close at 17691 with gains of nearly one percent and formed a bullish candle on daily chart. Index has seen good pull back from its support zone of 17450 zone & now going forwards 17650-17600 will be immediate support zone if managed to hold above said levels we may see index to touch its immediate hurdle zone of 17760-17830 zone, again overall range is coming in between 17300-18000 zone either side breakout will decide the final direction. Nifty bank closed a day at 37580 with gains of one percent, immediate support is coming near 37400-37000 zone & resistance is coming near 37900-38300 zone.

LKP Securities

Published on 4/10/2021 9:17:05 AM

Index closed a week at 17532 with loss of nearly two percent and formed a bearish candle on the weekly chart. on daily chart index formed a doji candle pattern on Friday session which hints indecision in the markets, going forwards index has formed supports near 17450-17400 zone if managed to sustain above said levels one can expect a decent pull back towards immediate & strong hurdle zone of 17620-17740 where one can lock immediate profit in longs also overall range for the nifty is coming in between 17300-18000 zone. Nifty bank closed a week at 37226 with loss of nearly two percent, immediate support for nifty bank is coming near 37000-36800 zone & resistance is coming near 37500-37900 zone.

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