Good Morning
If you are a regular reader of Morning comments, you will remember that 17600 to 17650 is the most important Index number. It is because it is the level above which it will act as a strong support and below this 50 point range, it will act as a strong resistance. We are in a phase of consolation which should continue for some more time.
#Nifty. Support for the day is placed at 17730, below which we can test 17650 and resistance at 17800, above which we can see 18000 levels.
#Banknifty. The kind of rally we have seen in the past 1 week is suggesting strong positive moves in coming days. Most banks are looking strong on charts and data. Support is placed at 37100 and resistance at 37800. Bank Nifty should follow the range today.
#Derivative. Data is mixed with lot of short positions in Index and stock futures. We have to remember that there was good long build up in the last expiry week and some moderation is required in terms of PCR, and long/ short ratio.
#Global. If US Fed starts selling bonds, it will be a major shift in world markets since 2008 crisis when they started buying junk to support the economy. Now it is the reversal of stance. What ever be the reason, you have to be ready to handle the volatility....
Expect a range day.
If you are a regular reader of Morning comments, you will remember that 17600 to 17650 is the most important Index number. It is because it is the level above which it will act as a strong support and below this 50 point range, it will act as a strong resistance. We are in a phase of consolation which should continue for some more time.
#Nifty. Support for the day is placed at 17730, below which we can test 17650 and resistance at 17800, above which we can see 18000 levels.
#Banknifty. The kind of rally we have seen in the past 1 week is suggesting strong positive moves in coming days. Most banks are looking strong on charts and data. Support is placed at 37100 and resistance at 37800. Bank Nifty should follow the range today.
#Derivative. Data is mixed with lot of short positions in Index and stock futures. We have to remember that there was good long build up in the last expiry week and some moderation is required in terms of PCR, and long/ short ratio.
#Global. If US Fed starts selling bonds, it will be a major shift in world markets since 2008 crisis when they started buying junk to support the economy. Now it is the reversal of stance. What ever be the reason, you have to be ready to handle the volatility....
Expect a range day.
INDEX LEVELS for 07-01-2022
NIFTY 50: SPOT SUPPORT AT 17700 BELOW THIS 17600, RESISTANCE AT 17900 ABOVE THIS 18000
BANKNIFTY: SPOT SUPPORT AT 37300 BELOW THIS 37000, RESISTANCE AT 37500 ABOVE THIS 38000
BSE SENSEX: SPOT SUPPORT AT 59300 BELOW THIS 59000, RESISTANCE AT 60000 ABOVE THIS AT 60500
NIFTY 50: SPOT SUPPORT AT 17700 BELOW THIS 17600, RESISTANCE AT 17900 ABOVE THIS 18000
BANKNIFTY: SPOT SUPPORT AT 37300 BELOW THIS 37000, RESISTANCE AT 37500 ABOVE THIS 38000
BSE SENSEX: SPOT SUPPORT AT 59300 BELOW THIS 59000, RESISTANCE AT 60000 ABOVE THIS AT 60500
Buy GAIL 140 Pe above 4.45
Target 5.10/5.70+
SL# Paid
CMP 4.40 wait for level to cross
Target 5.10/5.70+
SL# Paid
CMP 4.40 wait for level to cross
INDEX LEVELS for 10-01-2022
NIFTY 50: SPOT SUPPORT AT 17700 BELOW THIS 17600, RESISTANCE AT 17900 ABOVE THIS 18000
BANKNIFTY: SPOT SUPPORT AT 37500 BELOW THIS 37300, RESISTANCE AT 38000 ABOVE THIS 38200
BSE SENSEX: SPOT SUPPORT AT 59500 BELOW THIS 59300, RESISTANCE AT 60000 ABOVE THIS AT 60500
NIFTY 50: SPOT SUPPORT AT 17700 BELOW THIS 17600, RESISTANCE AT 17900 ABOVE THIS 18000
BANKNIFTY: SPOT SUPPORT AT 37500 BELOW THIS 37300, RESISTANCE AT 38000 ABOVE THIS 38200
BSE SENSEX: SPOT SUPPORT AT 59500 BELOW THIS 59300, RESISTANCE AT 60000 ABOVE THIS AT 60500
INDEX LEVELS for 11-01-2022
NIFTY 50: SPOT SUPPORT AT 17900 BELOW THIS 17800, RESISTANCE AT 18100 ABOVE THIS 18200
BANKNIFTY: SPOT SUPPORT AT 38000 BELOW THIS 37800, RESISTANCE AT 38500 ABOVE THIS 38800
BSE SENSEX: SPOT SUPPORT AT 59800 BELOW THIS 59300, RESISTANCE AT 60500 ABOVE THIS AT 61000
NIFTY 50: SPOT SUPPORT AT 17900 BELOW THIS 17800, RESISTANCE AT 18100 ABOVE THIS 18200
BANKNIFTY: SPOT SUPPORT AT 38000 BELOW THIS 37800, RESISTANCE AT 38500 ABOVE THIS 38800
BSE SENSEX: SPOT SUPPORT AT 59800 BELOW THIS 59300, RESISTANCE AT 60500 ABOVE THIS AT 61000
BUY UTIAMC AT 1094
SL AT 1020
TARGET AT 1500+
HOLD FOR COUPLE OF MONTHS.
SL AT 1020
TARGET AT 1500+
HOLD FOR COUPLE OF MONTHS.
Good Morning
We declared 18100 to 18200 on the Nifty on Monday...it is nearly moved so fast and took only 2 days to achieve it. In such a scenario, it is advised to take some profits off the table and wait on the sidelines for better levels to buy. Expect some cool off like yesterday.
#Nifty. Nifty made a hugh of 18085 yesterday and has resistance at 18135. Support is placed at 17950. Incase this resistance is crossed in a gapup, then resistance levels go up to 18370 which opens up some more upside. So, the trade on the long side is risky.
#Banknifty. The clear leader. I said in the video shared on last Saturday that above 38200, we are going for 38800. We should reach near those levels today. Support has gone up to 38150 and resistance at 38800.
#Derivative data. Data is on the over bought side. PCR at 1.35 and long short ratio is at 69%. VIX is neutral. Wait for the dips to enter.
We declared 18100 to 18200 on the Nifty on Monday...it is nearly moved so fast and took only 2 days to achieve it. In such a scenario, it is advised to take some profits off the table and wait on the sidelines for better levels to buy. Expect some cool off like yesterday.
#Nifty. Nifty made a hugh of 18085 yesterday and has resistance at 18135. Support is placed at 17950. Incase this resistance is crossed in a gapup, then resistance levels go up to 18370 which opens up some more upside. So, the trade on the long side is risky.
#Banknifty. The clear leader. I said in the video shared on last Saturday that above 38200, we are going for 38800. We should reach near those levels today. Support has gone up to 38150 and resistance at 38800.
#Derivative data. Data is on the over bought side. PCR at 1.35 and long short ratio is at 69%. VIX is neutral. Wait for the dips to enter.
Spend more time with charts. Find your strength and weakness. Be aware of it. Hit it hard when market travels in your strength period. Hide from market when it goes with your weakness. Keep withdrawing profits and pay yourself. Mistakes do happen, make sure it won't cost your account or profits made. Losing money is easy very easy so try to avoid doing that easy thing. You gonna fail a lot, embrace and move on. Wait for good periods and make a lot.
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