NIFTY to Open a Flat. Could 22,000 Be Held? – Report on Pre-Market Analysis


Yesterday’s Updates

NIFTY opened the day with a gap-down at 22,173 and then went up. The bottom from Friday was seen as a barrier, and the index went down. At one point, the index was around 22,100. At the end of the day, it was 22,122, down 90 points, or 0.41%.

The U.S. markets ended down. It was a mixed day on the European markets.

Today’s Expectation

The Asian markets are going down.

U.S. Futures are not moving up or down.

The GIFT NIFTY is slightly down at 22,119.

As a whole, these factors point to a flat to gap-down market beginning.

It is safe to buy NIFTY at 22,080, 22,020, and 21,955. At 22,175, 22,250, and 22,300, we can expect trouble.

You can buy BANKNIFTY at 46,470, 46,240, and 46,000. At 46,700, 46,950, and 47,200, we can expect opposition.

It is safe to buy FINNIFTY at 20,600, 20,540, and 20,450. At 20,650, 20,750, and 20,880, we can expect opposition.

It is hard to make a call in NIFTY at 22,500. The highest level of OI backing is at 22,000. At 0.84, PCR is negative.

At 47,000, there is a lot of call OI pushback in BANKNIFTY. At 46,000 and 46,500, there is a high put OI support. At 0.73, PCR is negative.

There was a net sale of shares worth Rs -285.15 crores by foreign institutional investors. Institutional investors in India sold shares worth a loss of 5 crores.

Indian VIX went up to 15.6.

After two weeks of crazy price increases, it looks like the markets are trying to settle down. People in the market are also interested in the GDP numbers for the United States and India.

Everyone wants to know if the economy can still grow since the Federal Reserve isn’t going to lower interest rates right away. There are also some important speeches from Fed members.

The FINNIFTY index is likely to move between 20,500 and 20,650, with a greater risk on the downside. But because VIX is still high, people who are selling options can be safer by adding more strikes. Try to make the most money possible.

At the end of the day, NIFTY was right around its all-time high of 22,125. Since GIFT NIFTY opened flat, I wouldn’t be surprised if we saw a bounce back up every time the market fell to its low point from yesterday. There isn’t much bearishness in the market right now; it’s mostly just staying the same.

This week, keep an eye on NIFTY between 22,000 and 22,200 for a bigger move.

Leave A Reply

Your email address will not be published.