About Yesterday’s Market
Yesterday, NIFTY opened at 22,337 with a gap-up and then went down. Following a test at 22,200, the index went back up. After 3 PM, there was a breakout above the day’s high. At the end of the day, NIFTY was at 22,336, up 189 points, or 0.86%.
At the end of the day, U.S. stocks were up. The markets in Europe also ended in strong green.
Today’s Expectations
The Asian stock markets are going up.
The U.S. Futures market is going up.
At 22,392, the GIFT NIFTY is not moving.
The market is likely to start flat because of all of these factors.
It is safe to buy NIFTY at 22,280, 22,200, and 22,000. At 22,440, 22,510, and 22,600, we can expect opposition.
You can buy BANKNIFTY at 47,800, 47,600, and 47,420. At 48,080, 48,160, and 48,300, we can expect opposition.
It is safe to buy FINNIFTY at 21,270, 21,200, and 21,080. At 21,380, 21,470, and 21,560, we can expect opposition.
It is hard to make a call on NIFTY between 22,600 and 22,500. You can put a lot of money on the queue at 22,300. The PCR level is 1.06.
At 48,000, BANKNIFTY has a high call OI resistance. You can put a lot of money on the queue at 47,500. PCR is now at 1.01.
At 21,500, FINNIFTY has a high call OI resistance. It is possible to put a lot of money on 22,300. The PCR level is 1.11.
FPIs from outside India sold shares worth a total of Rs 2,915 crores on Friday. Indian institutional investors bought shares worth a total of Rs 3,542 crores.
VIX in India went down to 12.70.
Due to news about the Israel war and the Mauritius Tax Treaty, the market fell last week. It is now back to normal.
We are now in the results season, which comes before the polls. The Reliance results will have an effect on our markets today.
The number of people who want to buy BANKNIFTY calls is still very high, at 48,000. This is true even though the index went up 350 points yesterday. It’s important that this amount is reached in the morning.
And that’s why the market went up yesterday: the foreign market got better. We will find out the real direction of the market now that GIFT NIFTY shows a flat start.
Polls are being collected all over the country. The market is likely to be unstable as more states vote.
I don’t think HDFC Bank will change much soon. Keep an eye out for that 1558 mark breaking one day.
If you want to use FINNIFTY, watch out for the last 30 minutes as well. It’s not a bad idea to put safety first when other people in the market are getting too pushy.
