Nifty/Banknifty daily analysis

*Nifty/Banknifty daily analysis:*

Date: 31st January, 2022
Day: Monday

US markets closed the week on a sharply higher note after a recovery of of 900+ points from intraday lows. Dollar Index is continuously trading above 97 now. Dow closed 565 points higher and Nasdaq closed on 3.1% higher. US futures are currently trading flat.

*Nifty* closed the week around 17100 after huge volatility . It is good that market is very light going into the budget. FIIs are still pumping the funds out of the system.

*Banknifty* closed around 37600 after a sharp downmove from highs on friday. The zone of 37500-37600 will act as a strong support for this week also.

*SGX Nifty* is trading around 17260 which shows a positive opening in the index. India Vix closed around 20.70. Put call ratio is in neutral zone.

*Support levels*

Nifty : 17025, 16940, 16875
Banknifty: 37450, 37200, 36900

*Resistance levels*

Nifty: 17240, 17325, 17380
Banknifty: 37900, 38450, 38800

*All the analysis given above is my individual study and do base your trades or investment ideas by consulting your investment advisor*

*CA. Ameya Limaye*,
*Team Arthology*

Comments

Popular posts from this blog

जाणून घ्या दिवसासाठी सर्व काही📰 8 JANUARY📆*

जाणून घ्या दिवसासाठी सर्व काही

जानुन घ्या आजचा दिवसातील घडामोडी