NIFTY 50 EOD ANALYSIS 15-12-21
In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow.
O 17323.65
H 17351.20
L 17192.20
C 17221.40
EOD -103.50 points / -0.60%
SGX Nifty 15-12-21 @ 1930h = Flat
FII DII = -2,354 Crores
CHART BASED CONCLUSIONS using 5 Minutes Chart
Nifty opened with a mild gap up and as usual, it was sold in to and heavily as it breached 17200 as well.
It then managed to recover well but hit an intraday resistance around 17280 and fell back again closer to 17200.
It yet again bounced back and this time made a desperate attempt to retest the previou close which failed and then it fell almost 100 points to end below 17250.
It was a very choppy day yet again.
In the process, Nifty has made yet another lower high and yet another lower low.
NIFTY WEIGHT LIFTERS & DRAGGERS
Top 5 Lifters contributed = 14
Top 5 Draggers contributed = 58
Net = -44
BANK NIFTY WEIGHT LIFTERS & DRAGGERS
Top 3 Lifters contributed = 24
Top 3 Draggers contributed = 159
Net = -135
POSITIVES
Kotak Bank looks good and ended up 1%+ amidst intense pressure.
NEGATIVES
Reliance yet again ended below 2400 and this is going to weigh a lot on Nifty performance.
India Vix has gone up.
HDFC Bank is unable to sustain 1500+ levels.
HDFC gets hammered upon every rise.
IT big heads were under extreme selling pressure.
Bank Nifty ended below the important level of 36800 and Nifty well below 17300.
Net FII DII numbers are more than -2,000 Crores.
TRADING RANGE FOR 15 Dec 21
Nifty Support = In view of the continued selling pressure, I move down the supports to 17050-100.
Should this break, 16750-850 may open up as a support.
Nifty resistance = 17300-380-400-450-500.
Bank Nifty Support = 36200-500-800
Bank Nifty resistance = 37000-200-500-700
INSIGHTS / OBSERVATIONS
Just because FTSE was in the red, our indices were made to fall in the last 45 minutes or so. This is what I could gather as the fall came from around key potential breakout levels that could have changed the color of the EOD prices.
I have a feeling of course based on my readings that whenever indices end the session near day's low, they tend to bounce back the following day. Let's see how it unfolds tomorrow.
The last time Bank Nifty made a low at or above 37000 was on 25 Nov - so much is the negativity being experienced by the index. Tomorrow is the weekly expiry so either has the potential to register a low above 37K or simply fall further.
Even though Bank Nifty has ended below 36800, as mentioned in my weekly analysis, Bank Nifty is outperforming Nifty for now as for Nfty, the pressure is oncoming from HDFC, Reliance and now from the IT big heads.
What do you feel about this?
Here is the video link –
Thank you, and Happy Money Making!
Umesh
15-12-21
NOTE --
This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
---
In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow.
O 17323.65
H 17351.20
L 17192.20
C 17221.40
EOD -103.50 points / -0.60%
SGX Nifty 15-12-21 @ 1930h = Flat
FII DII = -2,354 Crores
CHART BASED CONCLUSIONS using 5 Minutes Chart
Nifty opened with a mild gap up and as usual, it was sold in to and heavily as it breached 17200 as well.
It then managed to recover well but hit an intraday resistance around 17280 and fell back again closer to 17200.
It yet again bounced back and this time made a desperate attempt to retest the previou close which failed and then it fell almost 100 points to end below 17250.
It was a very choppy day yet again.
In the process, Nifty has made yet another lower high and yet another lower low.
NIFTY WEIGHT LIFTERS & DRAGGERS
Top 5 Lifters contributed = 14
Top 5 Draggers contributed = 58
Net = -44
BANK NIFTY WEIGHT LIFTERS & DRAGGERS
Top 3 Lifters contributed = 24
Top 3 Draggers contributed = 159
Net = -135
POSITIVES
Kotak Bank looks good and ended up 1%+ amidst intense pressure.
NEGATIVES
Reliance yet again ended below 2400 and this is going to weigh a lot on Nifty performance.
India Vix has gone up.
HDFC Bank is unable to sustain 1500+ levels.
HDFC gets hammered upon every rise.
IT big heads were under extreme selling pressure.
Bank Nifty ended below the important level of 36800 and Nifty well below 17300.
Net FII DII numbers are more than -2,000 Crores.
TRADING RANGE FOR 15 Dec 21
Nifty Support = In view of the continued selling pressure, I move down the supports to 17050-100.
Should this break, 16750-850 may open up as a support.
Nifty resistance = 17300-380-400-450-500.
Bank Nifty Support = 36200-500-800
Bank Nifty resistance = 37000-200-500-700
INSIGHTS / OBSERVATIONS
Just because FTSE was in the red, our indices were made to fall in the last 45 minutes or so. This is what I could gather as the fall came from around key potential breakout levels that could have changed the color of the EOD prices.
I have a feeling of course based on my readings that whenever indices end the session near day's low, they tend to bounce back the following day. Let's see how it unfolds tomorrow.
The last time Bank Nifty made a low at or above 37000 was on 25 Nov - so much is the negativity being experienced by the index. Tomorrow is the weekly expiry so either has the potential to register a low above 37K or simply fall further.
Even though Bank Nifty has ended below 36800, as mentioned in my weekly analysis, Bank Nifty is outperforming Nifty for now as for Nfty, the pressure is oncoming from HDFC, Reliance and now from the IT big heads.
What do you feel about this?
Here is the video link –
Thank you, and Happy Money Making!
Umesh
15-12-21
NOTE --
This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
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