Nifty 50 (+0.51%) Bank Nifty (+0.50%)
Nifty 50 ✔️
After a flat start, the Nifty climbed on January 1st. At the closing, the Nifty was up 0.51%, or 92.2 points, to 18197.5.
On the 15-minute time frame, the Nifty has been spotted in an ascending triangle pattern, and it has also been consolidating on the 50-day moving average.
Technically, we can expect a strong move over 18300.
Breaking over 18300 will lead to 18480, while breaking below 17950 will lead to 17820.
Bank Nifty 50 ✔️
Due to outstanding performances by ICICI and Axis banks, the Bank Nifty closed up 216.65 points (+0.5%).
On the 15-minute time frame, Bank Nifty was observed in an ascending channel pattern, and it was also observed consolidating on the 50-day moving average.
Technically, we can expect a strong rally over 43650
Breaking over 43650 will lead to 44100, while breaking below 42900 will lead to 42600.
Rupee had a significant decline despite a reasonable gain in market indexes.
