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Good morning, friends!

So yesterday was the most awaited in Indian markets of recent past. #LICI got listed, though at discount. Market saw good rally in Indices helped by heavyweights of NIFTY. which gave some relief Bulls. However, was it a reversal or just a small pause taken by bears?

#NIFTY50: According to LHLL Pattern I discussed last time, we are still suppose to make a new low below 15670. Pattern is valid as long as we're closing below previous LH of 18110. For short term reversal, 16400-16450 is the area of resistance closing above which can see major short covering and see 17000+ levels. For Intraday, it's Buy above 16300 and Sell below 16200.

#NIFTYBANK: Banks took part in the rally little late. Will it continue doing so? All depends on how market trades today. For this momentum to continue, we need a good support from US Market as well. Their this week's closing is very important considering the fact that they're almost into a recession. 34500 is good resistance and 34000 is good support herw. For Intraday, it's Buy above 34350 and Sell below 34200.

Create your positions accordingly. Wishing you a very profitable day ahead!

Yours, @NIKHILMAHESHWARI