Intraday study for Indian indices for 20th January 2023
Hi Good Morning
Yesterday we saw that the market took the resistance at 18177 in futures and didn't cross the level of 18225 so the short covering didn't trigger and we saw that the market is in the range So when i write please read carefully because saved money is more than a profit
The Dow's closes in red as the Data of jobless claims and hawkish fed fear the rate hike and rescission
The SGXNIFTY shows the flat to positive opening
The India VIX cools down
Now we talk about the Nifty and Banknifty:--
Nifty:--
The support is at 18025-18050 with the resistance of 18177-18225 if market cut these levels we will see higher levels
Banknifty:--
The support is at 42100-42300 with the resistance of 42650-42800-43100 as the high beta looks god as in data development yesterday
Sector and Stock Specific(SSS):--
As mentioned the major sector with their leaders looks good and the budget related stocks and sector we saw that he L&T from capital goods did very good in 2 days Now the data looks good in banks and don't forget the railway and other major sectors
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 we saw that the market took the resistance at 18177 in futures and didn't cross the level of 18225 so the short covering didn't trigger and we saw that the market is in the range So when i write please read carefully because saved money is more than a profit
The Dow's closes in red as the Data of jobless claims and hawkish fed fear the rate hike and rescission
The SGXNIFTY shows the flat to positive opening
The India VIX cools down
Now we talk about the Nifty and Banknifty:--
Nifty:--
The support is at 18025-18050 with the resistance of 18177-18225 if market cut these levels we will see higher levels
Banknifty:--
The support is at 42100-42300 with the resistance of 42650-42800-43100 as the high beta looks god as in data development yesterday
Sector and Stock Specific(SSS):--
As mentioned the major sector with their leaders looks good and the budget related stocks and sector we saw that he L&T from capital goods did very good in 2 days Now the data looks good in banks and don't forget the railway and other major sectors
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
Comment:
it may be a rending day in HDFC HDFCBANK and Banknifty be with these buying on dips is advisable
