NIFTY AND BANK NIFTY ANALYSIS FOR 06 JAN 2023
06 JAN 2023 2115 HRS
1. US markets are looking bearish.
2. Europe is very bullish.
3. Asia is bearish.
4. SGX Nifty is indicating a flat start.
5. India VIX is at 15. however it is down compared yesterday.
6. HDFC Bank is looking bearish. If it breaks below 1590, then bank nifty will be very bearish. Next tgt will be 1570.
7. ICICI Bank has res at 889 and sp at 870. if 880 is broken, then next tgt is 860.
8. Reliance has resistance at 1532 and sp at 2480. Rel @ 2514.
Analysis
1. OI does not matter tomorrow.
2. Bank nifty and nifty has been on decline for last two days..
3. if Hdfc bank and ICICI bank holds their today's low, then there is a possibility of rally of Bank Nifty to 42600 and further.
4. Reliance is bearish. so nifty is also looking bearish.
5. I will wait for 30 min, look for any direction of Bank nifty or Nifty.
6. If Bank nifty sustain above 42625, then we can see atgt of 43071.
7. If Bank nifty does not sustain 43600, then Tgt will be 42200.
8. If Nifty sustain 18000, we can see 18114. If nifty weaken, then next tgt will be 17900.
1. US markets are looking bearish.
2. Europe is very bullish.
3. Asia is bearish.
4. SGX Nifty is indicating a flat start.
5. India VIX is at 15. however it is down compared yesterday.
6. HDFC Bank is looking bearish. If it breaks below 1590, then bank nifty will be very bearish. Next tgt will be 1570.
7. ICICI Bank has res at 889 and sp at 870. if 880 is broken, then next tgt is 860.
8. Reliance has resistance at 1532 and sp at 2480. Rel @ 2514.
Analysis
1. OI does not matter tomorrow.
2. Bank nifty and nifty has been on decline for last two days..
3. if Hdfc bank and ICICI bank holds their today's low, then there is a possibility of rally of Bank Nifty to 42600 and further.
4. Reliance is bearish. so nifty is also looking bearish.
5. I will wait for 30 min, look for any direction of Bank nifty or Nifty.
6. If Bank nifty sustain above 42625, then we can see atgt of 43071.
7. If Bank nifty does not sustain 43600, then Tgt will be 42200.
8. If Nifty sustain 18000, we can see 18114. If nifty weaken, then next tgt will be 17900.