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Nifty 50: 19 Jan 24 Expectations

NSE:NIFTY   Nifty 50 Index

  • Major World Indices ended yesterday on positive note.

  • AI related demand surge is giving push to IT companies stocks.
  • Rate cut expectations fall back as prominent central banks push back such apprehensions.
  • Geo-political tensions rise as Pakistan strikes some parts of Iran with missiles.

  • FIIs+DIIs combined Index Futures positions are now 7% more short than their long positions indicating where this monthly expiry is expected to go.

  • Going by the optimism in US stocks, Nifty is expected to recover some lost ground today and later on Quarterly Results as well as direction of global markets will guide Nifty's direction.

  • On half hourly charts 21383 seems to be major support while 21500 is the nearest resistance.

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