JINDRILL
sl 20sma below one close
It will be fly soon

We are at crucial 48500 levels. Watchout!

Today again CE not able to cross 10 EMA and PE finding support at 10 EMA. This cross over gives an indication for change in direction

10 EMA: White
20 EMA: Red
VWAP: Blue

BNF Very interesting positioning. 48350 has F, G, and H highs together—creating a ledge. This suggests that short term players are shorting here.
On the other hand we have poor low below a key support region!

Lets see which was it is gonna move!

497+ ~5.5% in 2 day after activation

Active could be bought at cheaper price

BNF 08May prognosis

BNF opened near the previous day's close, initially moving up and crossing the 49000 mark. However, the bullish momentum was swiftly halted by bearish pressure, leading to a sharp downturn and an OTF down scenario. Although the I period briefly broke the OTF, it seemed more like a maneuver to clear the ledge formed by E, F, G, and H period highs matching at the same level. Such ledges often attract short-term players who trade mechanically at visual levels, making them vulnerable to stop runs. As anticipated, the subsequent flourish in the I period triggered quick short-covering, but the momentum quickly dissipated, resulting in BNF revisiting the day's low.

Once again, a triple distribution pattern emerged, with a notable singles zone spanning from 48800 to 48600, followed by another at 48500. During the second half of trading, the price primarily rotated between 48500 and 48200, leading to a migration of the point of control (POC) and volume point of control (VPOC) downwards, along with a shift in the value area lower. The establishment of a poor low at 48200 suggests that this reference point is likely to be breached tomorrow, potentially finding support at 48000, 47600, and 47450 levels in case of further downward movement.

For potential upward movements, the previously robust support levels are expected to act as equally formidable resistance zones. Therefore, it's crucial for BNF to open and sustain above 48200 to initiate any upward trajectory. Upon sustaining above this level, the first line of resistance is anticipated at 48500, followed by the large singles zone (48800 - 48600), which may require strong bullish momentum to clear.

With BNF expiry scheduled for tomorrow and the release of SBI results expected during market hours, anticipate heightened volatility and potential fireworks in the market.

WIPRO FUT Strong above 468.1

HDFC FUT WEAK BELOW 1496

HCLTECH FUT WEAK BELOW 1336

RELIANCE FUT Weak below 2802

NIFTY FUT Weak Below 22330