DATA DRIVEN ANALYSIS OF NIFTY & BANK NIFTY FOR THE WEEK ENDING 14-1-22
This is a weekly post where I briefly capture the key highlights of the 2 leading indices. This post is supported by a video that takes you through the details of how I have arrived at the analysis. I encourage you to view the video as well since not everything can be captured in a document form.
I hope that this effort would help the readers and viewers to get a crisp idea about what happened in the markets over a period of one week.
Important -
The indices have performed fairly well this week and the weekly close is also at a good level. The results season has begun on a good note with both Infosys and TCS posting good numbers and closing the week at their respective All Time High. The market would now be driven more by the release of the quarterly results. It is better to trade/invest in results bound scrips only after the results and not in anticipation of a good outcome.
The market seems to have for now discounted the Covid as well as Omicron related impacts and seems to be getting in to the pre-Budget rally mode.
BANK NIFTY
Since comparison with 1-1 data is not possible, I have used 3-1-22 which was the first trading day of the year as well as the week.
EOD on 3-1-22 = 36421
EOD on 14-1-22 = 38370 up by 1949 points or 5.35% from 3-1-22
The highest level in the week ending 14-1-22 = 38851 on 12-1-22
The lowest level in the week ending 7-1-22 = 37929 on 10-1-22
Difference Highest - Lowest = 929 points or 2.44% from the lowest level
In the last week, Bank Nifty has made an upward move of 630 points or 1.76% which is a good move, but it has underperformed in comparison to Nifty.
NIFTY
Since comparison with 1-1 data is not possible, I have used 3-1-22 which was the first trading day of the year as well as the week.
EOD on 3-1-22 = 17625
EOD on 14-1-22 = 18255 up by 630 points or 3.57% from 3-1-22
The highest level in the week ending 14-1-22 = 18286 on 14-1-22
The lowest level in the week ending 14-1-22 = 17879 on 10-1-22
Difference Highest - Lowest = 407 points or 2.27% from the lowest level
In the last one week Nifty has made an up move of 443 points or 2.57% which indicates a continued momentum on the upside.
FII - DII DATA:
JAN 2022
FIIs = -2922 Crores
DIIs = +7139 Crores
Net is = +4,217 Crores
KEY LEVELS FOR THE INDICES - on closing basis
Bank Nifty
To remain in bullish momentum 38000-38200
Crucial Support - 37400-600
Potential Change of Trend - 37200 and lower
Nifty
To remain in bullish momentum 17900-18100
Crucial Support - 17800-900
Potential Change of Trend - 17800 and lower
I have made some changes to this analysis and have made it more data driven by removing subjective conclusions. This would help those who prefer data driven techniques. Also, my daily market analysis covers all the key points that are not covered in this post.
Here is the video link:
youtu.be/Ekcag1dF5Ow
I hope this change is well received and would be looking forward to receiving your feedback.
Happy Trading/Investing!
Umesh
15-1-22
Not SEBI Regd.
Posted purely for Educational & Informational purposes only.
This is a weekly post where I briefly capture the key highlights of the 2 leading indices. This post is supported by a video that takes you through the details of how I have arrived at the analysis. I encourage you to view the video as well since not everything can be captured in a document form.
I hope that this effort would help the readers and viewers to get a crisp idea about what happened in the markets over a period of one week.
Important -
The indices have performed fairly well this week and the weekly close is also at a good level. The results season has begun on a good note with both Infosys and TCS posting good numbers and closing the week at their respective All Time High. The market would now be driven more by the release of the quarterly results. It is better to trade/invest in results bound scrips only after the results and not in anticipation of a good outcome.
The market seems to have for now discounted the Covid as well as Omicron related impacts and seems to be getting in to the pre-Budget rally mode.
BANK NIFTY
Since comparison with 1-1 data is not possible, I have used 3-1-22 which was the first trading day of the year as well as the week.
EOD on 3-1-22 = 36421
EOD on 14-1-22 = 38370 up by 1949 points or 5.35% from 3-1-22
The highest level in the week ending 14-1-22 = 38851 on 12-1-22
The lowest level in the week ending 7-1-22 = 37929 on 10-1-22
Difference Highest - Lowest = 929 points or 2.44% from the lowest level
In the last week, Bank Nifty has made an upward move of 630 points or 1.76% which is a good move, but it has underperformed in comparison to Nifty.
NIFTY
Since comparison with 1-1 data is not possible, I have used 3-1-22 which was the first trading day of the year as well as the week.
EOD on 3-1-22 = 17625
EOD on 14-1-22 = 18255 up by 630 points or 3.57% from 3-1-22
The highest level in the week ending 14-1-22 = 18286 on 14-1-22
The lowest level in the week ending 14-1-22 = 17879 on 10-1-22
Difference Highest - Lowest = 407 points or 2.27% from the lowest level
In the last one week Nifty has made an up move of 443 points or 2.57% which indicates a continued momentum on the upside.
FII - DII DATA:
JAN 2022
FIIs = -2922 Crores
DIIs = +7139 Crores
Net is = +4,217 Crores
KEY LEVELS FOR THE INDICES - on closing basis
Bank Nifty
To remain in bullish momentum 38000-38200
Crucial Support - 37400-600
Potential Change of Trend - 37200 and lower
Nifty
To remain in bullish momentum 17900-18100
Crucial Support - 17800-900
Potential Change of Trend - 17800 and lower
I have made some changes to this analysis and have made it more data driven by removing subjective conclusions. This would help those who prefer data driven techniques. Also, my daily market analysis covers all the key points that are not covered in this post.
Here is the video link:
youtu.be/Ekcag1dF5Ow
I hope this change is well received and would be looking forward to receiving your feedback.
Happy Trading/Investing!
Umesh
15-1-22
Not SEBI Regd.
Posted purely for Educational & Informational purposes only.
