NIFTY 50 EOD ANALYSIS 14-1-22
In this post, I talk about the analysis for the day and the trading range for Monday. 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 Monday.
EOD -2.05 points / -0.01%
SGX Nifty 14-1-22 @ 1900h = -59
FII DII = -1,227 Crores
CHART BASED CONCLUSIONS using 5 Minutes Chart
Nifty opened with a strong gap-down and then went down further as if it was keen to break 18100. Fortunately, it found the required support and then recovered with 100+ points.
It then fell further and tried to break the day low but was lifted around 18130 and it then never looked back at the lower levels.
It was quite an impressive and sustained recovery and it finally ended flat.
NIFTY WEIGHT LIFTERS & DRAGGERS
Top 5 Lifters contributed = 182
Top 5 Draggers contributed = 131
Net = +51
BANK NIFTY WEIGHT LIFTERS & DRAGGERS
Top 3 Lifters contributed = 698
Top 3 Draggers contributed = 665
Net = +33
IT big heads, HDFC Bank (NS:), and LT made all the difference between a miserable close and a face-saving close.
Infosys (NS:) and TCS (NS:) ended at their respective ATH levels.
ended weaker than Nifty despite stellar performance by HDFC (NS:) Bank. This is a weak area as HDFC Bank would react to its results on 17-1.
FII selling has increased and today was also a net negative day from this point of view.
TRADING RANGE FOR 14 JAN 22
Nifty support = 17800-17900
Nifty resistance = 18275-300-400
Bank Nifty Support = 37500-38000
Bank Nifty resistance = 38500-700-900-39000
INSIGHTS / OBSERVATIONS
- It is interesting to know how simple things tend to work in markets. Here is my tweet related to the same:
- After I published this post, I realized one more insight and therefore, shared a tweet and the market almost moved in line. Here it is:
- Ahead of its results tomorrow, HDFC Bank managed a strong recovery and that made all the difference in the market sentiment. It contributed 538 points in Bank Nifty and 42 points in Nifty. Just remove its contribution and you will redness all over.
- Infosys ended at its All-Time High after falling further from the close of 13-1. TCS ended less than 1% from it’s All-Time High, and it too has ended the week with an ATH close. This is a very good sign not only for but also for the IT Index as well.
- Bank Nifty tested the nerves today as the day low was 38007. When supports like this are held, it makes me think how well is all this managed. It requires great precision and skills to be able to lift/drag the indices/scrips from their key levels. Obviously, a retail trader would not be able to do so without immense money power.
- In the last half an hour it was evident that both the indices were managed in such a way that they ended the way they have. Only a 5-minutes or lower time frame candle would be able to reflect this. Also, one needs to spend time in front of the screen to pick this up.
Here is the link to the video:
The post is for educational & informational purposes only.