Some Market Observations as on 14th Apr 2019
Bank Nifty — It is important for it to cross above 30400 to continue the current leg of uptrend; and all the more important to sustain 29750 on lower side. If not; then it could lead to deeper cuts. Chart looks a little weaker compared to chart of Nifty. Levels of 11600 and 11700 could probably be crucial to watch for the main index. Levels are of futures charts.
Stocks that could probably exude strength include names like :
ULTRACEMCO @ 4186 and
LICHSGFIN provided-above CMP @ 541 and
MARUTI @ 7374 — after some consolidation .
Some weakness could be probably visible in names like :
LT @ 1369 and
TITAN @ 1105.
All levels are current prices of futures segment.
None of the above are trading calls, none of the levels are entries or exits either. All of it, is chart study & observations ONLY.
