Technical Analysis of Indian Equities by Nooresh

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Bank Nifty – Important Supports at 10600-10700 should hold else 10200-10000

In Bank Nifty

  Bank Nifty recent lows at 10600 should ideally provide support on closing basis else it may head to 10000-10200 levels which was the recent low.   Watchout for SBI , ICICI Bank to give turnaround signals

RBI raises savings rates after nearly 2 decades and key rates by 50 bps—- Sensex 18218-18480 Breakaway gap supports.

As was mentioning that a 50 bps was being factored in but a savings rate change from 3.5% to 4% after 19 years by RBI was a big hit to the banks as well as the debt market exposure which impacts the broader market as well with lesser buyers for [...]

Nifty and Bank Nifty Technical View :

  Bank Nifty: After giving a good breakout at 11100 Bank Nifty gave a good clean move till 11900. Currently it seems a nice bullish flag. Also there is a previous top around 11912. The range for now is nice 200-250 points. Any move sustaining above 11870 or below 11580 [...]

Banks Bounce !! as expected . Titan Inds headed to 3800

Sensex Technical View: The view remains as before. Sensex continues to hold on to the 200 dema at 18800 by making a couple of bottoms there in near term.The 200 dema is placed at 18800. But we need to see a sustaining move above 19150-19200 and followed by that a [...]

Banks to lead Bounce Back. Sensex holding on to 18800

Bank Nifty : Although we have seen new lows but a rising RSI in last few sessions. This indicates possibly a sharp bounce in near term. Sensex Technical View: Sensex continues to hold on to the 200 dema at 18800 by making a couple of bottoms there in near term. [...]