Nifty 50 IndexLong
Intraday study for Indian indices for 12th January 2023
Hi Good Morning
yesterday we saw a consolidative session within the range of 1st support and resistance and today is the weekly expire of the indices so may be the today is also the consolidative day as the support and resistances are unchanged but the data changes and based on that we will discuss the levels also tow big tech companies having results today
The US market are up because of the inflation data news and ends higher and the Nasdaq jumps around 1.8% The SGXNIFTY is showing the opening about 16 Points positive to flat
Now we talk about the Nifty and Banknifty
Nifty:--
The support is placed around the 17800-17777-17717 with the resistance of 18000-18050-18100
Banknifty:--
The support is placed around the 41800-41500 with the resistance of 42300-42650-42800
Sector and Stock Specific(SSS):--
The Banks looks good as they are correcting before the results so look good for accumulation and also the data wise the banknifty is closed above 42000 so it is better placed and also the railway, capital goods along the major sector with the leaders look good
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
yesterday we saw a consolidative session within the range of 1st support and resistance and today is the weekly expire of the indices so may be the today is also the consolidative day as the support and resistances are unchanged but the data changes and based on that we will discuss the levels also tow big tech companies having results today
The US market are up because of the inflation data news and ends higher and the Nasdaq jumps around 1.8% The SGXNIFTY is showing the opening about 16 Points positive to flat
Now we talk about the Nifty and Banknifty
Nifty:--
The support is placed around the 17800-17777-17717 with the resistance of 18000-18050-18100
Banknifty:--
The support is placed around the 41800-41500 with the resistance of 42300-42650-42800
Sector and Stock Specific(SSS):--
The Banks looks good as they are correcting before the results so look good for accumulation and also the data wise the banknifty is closed above 42000 so it is better placed and also the railway, capital goods along the major sector with the leaders look good
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
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