FOR THE LIVE TRADING TIPS WHATSAPP ON 9039542248
Nifty fell for the second straight day on Jan. 5 but rebounded gracefully from the intraday lows after 1:30 p.m. Volumes on the NSE are gradually increasing as people return to work after the holidays. The broad market improved from the previous session, with the advance decline ratio rising to 0.92:1. Capital goods, tires, FMCG stocks were in demand. Sensex closed 304 points lower at 60353. Nifty closed 50 points lower at 17992. Approximately 1667 stocks rose, 1705 stocks fell, and 145 stocks remained flat. Investors around the world are digesting FOMC minutes as stock markets trade lower, showing that Fed officials are determined to tame inflation by maintaining their aggressive stance. Financials led losses in the domestic market after dismal earnings from leading NBFC. Oil prices rebounded after falling sharply on fears of a global recession as investors remain optimistic about long-term demand. European stocks fell on Thursday, posting a three-day winning streak as minutes from the Federal Reserve meeting announced a cautious tone on interest rates. Asian stocks rose on Thursday on hopes of China overcoming the pandemic. The Nifty 50 index has formed a falling three candlestick pattern on the daily chart, which is immediately followed by another bearish candlestick pattern dubbed Dark Cloud Cover, which suggests that the bears are scaling the have control The benchmark started its day with a small gap-up opening of around 50 points indicated by the SGX NIFTY. But prices failed to hold their initial gains and started their journey down, up, down, down for the day. Nifty registered its intraday low of 17892 levels and posted that it rallied gracefully in the last hour of the trading session. Currently, immediate support for the Nifty sits at 17900 levels. However, if prices fall below this level, 17850/17800 will be the fast forward target for the index. The upper band is capped below 18100 levels where 21 EMAs are placed.
Resistance: 18100, 18200, 18300
Support: 17900, 17800, 17700
No comments:
Post a Comment