Nifty Crawls Up, Bank Nifty Slips

  • by THO
  • 6 days ago
  • news
  • 0


NIFTY 50 EOD ANALYSIS 13-1-22

In this post, I talk about the analysis for the day and the trading range for today. 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 today.

O 18257.00

H 18272.25

L 18163.80

C 18257.80

EOD +45.45 points / +0.25%

SGX 13-1-22 @ 1910h = -10

FII DII = -325 Crores

CHART BASED CONCLUSIONS using 5 Minutes Chart

Nifty opened with a mild gap up and then sold-off to test 18200 and from there it created high for the day and then fell almost 100 points.

It found support above 18150 and rose almost 100 points and then fell below 18200 and then again wobbled and finally rallied around day high and then ended the day at 18257.

Nifty has managed to create a higher high and a higher low.

NIFTY WEIGHT LIFTERS & DRAGGERS

Top 5 Lifters contributed = 41

Top 5 Draggers contributed = 39

Net = +2

BANK NIFTY WEIGHT LIFTERS & DRAGGERS

Top 3 Lifters contributed = 42

Top 3 Draggers contributed = 299

Net = -257

POSITIVES

IT big heads, Reliance (NS:) as well as LT helped Nifty.

Metals also were shining today and are the front contributors.

Nifty closed above 18250.

NEGATIVES

HDFC Bank (NS:) and Kotak Bank dragged the indices.

has severely underperformed on account of the above.

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

  • Nifty open price and close price are the same. This means indecisiveness caused by the negative sentiment created by HDFC (NS:) Bank and Kotak Bank.
  • Yesterday, HDFC Bank and Kotak Bank fell 20 points from their day high. Kotak Bank could recover a bit but not HDFC Bank and that is what continued today as their partnership ensured Nifty was also suffocated.
  • Once again, India Vix is not reflecting the choppiness in trading especially the Bank Nifty. I do not know why is India Vix behaving this way when the reality is different.
  • This is the reason why Bank Nifty ended below 38500:
  • Of the 257 points by which Bank Nifty has fallen, 276 were contributed by HDFC Bank and Kotak Bank. This shows what the two whimsical scrips can do to the indices. HDFC Bank is expecting its results on 14-1 so the nervousness is likely to remain tomorrow as well.
  • Yesterday, around 1915h, SGX Nifty was showing +77. However, today it could not even move up by 77 points from the close of 12-1. So much is the difference between theory and practical [SGX Nifty and NSE Nifty]!

Here is the link to the video:
https://youtu.be/w12mqvihblM

The post is for educational & informational purposes only.



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