Nifty 50 IndexLong
Intraday study for Indian indices for 16th December 2022
Hi Good Morning
yesterday market broke our support of 18500 and then we saw a swift fall towards 18400 with no exit point as market didn't sustain there and then The US market gives the deep cuts because of the FED rates hike and outlook of r2023-2024 and then the Central banks of Britain and other countries also hike the rates and today we may saw a gapdown opening which is a good opportunity for bounce in major big names of indices and midcaps big names along with the banks and also the windfall tax is reduces so the Oil marketing companies and reliance shows upmove which support the market
Now we talk about the Nifty and Banknifty:--
Nifty:---
The support is at 18300-18350 and 18175 is the Good support for the huge bounce with the resistance of 18670-18720 but the VIX is down so the range is shorter with 190 tp 200 points
Banknifty:--
The banknifty support is at 43300-43500 if reoccurred and the resistance is at 44100
Sector and Stocks:---
The oil marketing companies , capital goods ,auto, banks banknifty
and also i mentioned above and also avoid the CNXIT for now the technical pullback may come because of the oversold levels
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
yesterday market broke our support of 18500 and then we saw a swift fall towards 18400 with no exit point as market didn't sustain there and then The US market gives the deep cuts because of the FED rates hike and outlook of r2023-2024 and then the Central banks of Britain and other countries also hike the rates and today we may saw a gapdown opening which is a good opportunity for bounce in major big names of indices and midcaps big names along with the banks and also the windfall tax is reduces so the Oil marketing companies and reliance shows upmove which support the market
Now we talk about the Nifty and Banknifty:--
Nifty:---
The support is at 18300-18350 and 18175 is the Good support for the huge bounce with the resistance of 18670-18720 but the VIX is down so the range is shorter with 190 tp 200 points
Banknifty:--
The banknifty support is at 43300-43500 if reoccurred and the resistance is at 44100
Sector and Stocks:---
The oil marketing companies , capital goods ,auto, banks banknifty
and also i mentioned above and also avoid the CNXIT for now the technical pullback may come because of the oversold levels
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
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