NIFTY 50 EOD ANALYSIS 11-1-22
In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow.
O 17997.75
H 18081.25
L 17964.40
C 18055.75
EOD +52.45 points / +0.29%
SGX Nifty 11-1-22 @ 1925h = -32
FII DII = Not yet available
CHART BASED CONCLUSIONS using 5 Minutes Chart
Nifty opened with a minor gap-down and rallied a bit and then there was a mini sell-off but found support above 17950 and then it crossed 18050.
The movements were narrow and sideways and Nifty managed to hit the day high around FTSE open and then kept moving in a choppy manner.
It once again closed above 18000.
The indices have made higher highs and higher lows.
NIFTY WEIGHT LIFTERS & DRAGGERS
Top 5 Lifters contributed = 76
Top 5 Draggers contributed = 39
Net = +37
BANK NIFTY WEIGHT LIFTERS & DRAGGERS
Top 3 Lifters contributed = 133
Top 3 Draggers contributed = 40
Net = +93
POSITIVES
For the second day in a row, Nifty closed above 18000 and Bank Nifty above 38200.
HDFC twins and Reliance led from the front.
TCS looks quite strong ahead of its results but Infosys is somewhat weak.
NEGATIVES
Under performance by ICICI Bank and Kotak Bank.
India Vix has not yet cooled down despite the indices ending higher.
TRADING RANGE FOR 12 JAN 22
Nifty support = 17600-700
Nifty resistance = Every 50 points
Bank Nifty Support = 36800-37000
Bank Nifty resistance = 38500-38700-39000
INSIGHTS / OBSERVATIONS
Nifty moved in a narrow range and the momentum was subdued as if someone was holding it back. Even Bank Nifty on EOD basis has not gone up much which indicates that there is something that is awaited by the markets.
For Nifty, it could be on account of the Q3 results of the IT big heads but for Bank Nifty, there is no immediate trigger. So we may either see a break out or down in the next 2 days as the pace has slowed down.
Bank Nifty ended the day with +94 and this came from the 3 leaders HDFC Bank, SBIN, and quite surprisingly AU Small Finance Bank. This indicates that the rise is not across the family. ICICI Bank and Kotak Bank have not performed and that has hurt the index.
TCS is upbeat ahead of its results. It has the tendency to sell-off on the next trading after the results have been announced. We have to see how it behaves as this time even a share buy back announcement is going to be made.
What do you feel about this?
Here is the link to the video:
youtu.be/Skm3SjKnSaI
Thank you, and Happy Money Making!
Umesh
11-1-22
Not SEBI registered
The post is for educational & informational purposes only.
---
In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow.
O 17997.75
H 18081.25
L 17964.40
C 18055.75
EOD +52.45 points / +0.29%
SGX Nifty 11-1-22 @ 1925h = -32
FII DII = Not yet available
CHART BASED CONCLUSIONS using 5 Minutes Chart
Nifty opened with a minor gap-down and rallied a bit and then there was a mini sell-off but found support above 17950 and then it crossed 18050.
The movements were narrow and sideways and Nifty managed to hit the day high around FTSE open and then kept moving in a choppy manner.
It once again closed above 18000.
The indices have made higher highs and higher lows.
NIFTY WEIGHT LIFTERS & DRAGGERS
Top 5 Lifters contributed = 76
Top 5 Draggers contributed = 39
Net = +37
BANK NIFTY WEIGHT LIFTERS & DRAGGERS
Top 3 Lifters contributed = 133
Top 3 Draggers contributed = 40
Net = +93
POSITIVES
For the second day in a row, Nifty closed above 18000 and Bank Nifty above 38200.
HDFC twins and Reliance led from the front.
TCS looks quite strong ahead of its results but Infosys is somewhat weak.
NEGATIVES
Under performance by ICICI Bank and Kotak Bank.
India Vix has not yet cooled down despite the indices ending higher.
TRADING RANGE FOR 12 JAN 22
Nifty support = 17600-700
Nifty resistance = Every 50 points
Bank Nifty Support = 36800-37000
Bank Nifty resistance = 38500-38700-39000
INSIGHTS / OBSERVATIONS
Nifty moved in a narrow range and the momentum was subdued as if someone was holding it back. Even Bank Nifty on EOD basis has not gone up much which indicates that there is something that is awaited by the markets.
For Nifty, it could be on account of the Q3 results of the IT big heads but for Bank Nifty, there is no immediate trigger. So we may either see a break out or down in the next 2 days as the pace has slowed down.
Bank Nifty ended the day with +94 and this came from the 3 leaders HDFC Bank, SBIN, and quite surprisingly AU Small Finance Bank. This indicates that the rise is not across the family. ICICI Bank and Kotak Bank have not performed and that has hurt the index.
TCS is upbeat ahead of its results. It has the tendency to sell-off on the next trading after the results have been announced. We have to see how it behaves as this time even a share buy back announcement is going to be made.
What do you feel about this?
Here is the link to the video:
youtu.be/Skm3SjKnSaI
Thank you, and Happy Money Making!
Umesh
11-1-22
Not SEBI registered
The post is for educational & informational purposes only.
---
