Nifty 50 IndexLong
Intraday study for Indian indices for 30th January 2023
Hi Good Morning
On Friday we se that fall continues as the prediction of News is correct and the Nifty takes the ultimate support of 17528 which i mentioned you in the previous quick levels study and on the same day which the fall continues
The US market closes in green from the red and closes in good structure
The INDIAVIX IS moved up very rapidly which is good for options buyers but be cautious
The reply form the company may triggers the short covering and the data suggest that short covering has to come because there are more shorts in the market
Now we talk about the Nifty and Banknifty
Nifty:--
The support is at the level of 17528 with the range of 17450-17550 with the resistance of 17811-17851
The short covering has to come from the support zone
Banknifty:--
The support id placed at 39800-40100 as the structure is strong as the leader is strong and lead the short covering with the resistance of 40850-41100-41500
The range is more because of the increasing VIX and good structure and the chances of short covering is more
Sector and Stock Specific(SSS):--
The major sector is looking good as the budget ahead and the indices corrected and the sector leaders doing good so be with the mentioned sector stocks and the Adani Group has the big Short covering along with the banks and capital goods keep on radar
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
On Friday we se that fall continues as the prediction of News is correct and the Nifty takes the ultimate support of 17528 which i mentioned you in the previous quick levels study and on the same day which the fall continues
The US market closes in green from the red and closes in good structure
The INDIAVIX IS moved up very rapidly which is good for options buyers but be cautious
The reply form the company may triggers the short covering and the data suggest that short covering has to come because there are more shorts in the market
Now we talk about the Nifty and Banknifty
Nifty:--
The support is at the level of 17528 with the range of 17450-17550 with the resistance of 17811-17851
The short covering has to come from the support zone
Banknifty:--
The support id placed at 39800-40100 as the structure is strong as the leader is strong and lead the short covering with the resistance of 40850-41100-41500
The range is more because of the increasing VIX and good structure and the chances of short covering is more
Sector and Stock Specific(SSS):--
The major sector is looking good as the budget ahead and the indices corrected and the sector leaders doing good so be with the mentioned sector stocks and the Adani Group has the big Short covering along with the banks and capital goods keep on radar
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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