Nifty and bank nifty index 01/02/22

Charts and index daily #16

Nifty 50 current price – 17339.85

Niftyfut current price – 17361.95

Niftyfut Outlook:

Niftyfut has moved from 16450 (20th Dec 2021) to 18363.50 ( 18th Jan 2022). On 31st Jan 2022, it has closed at 17361.95 30min 20EMA – 17333.50

If today 1st Feb, it opens above - 17333.50  and moves above the resistance level 17422.65, it can move further till 17422.65 -17669, otherwise nifty will see short term correction to 17000 - 16650.

Unless nifty cross 17720 in future, it was not advisable to go long in nifty future.

Niftyfut Support: 17306 - 17004 - 16850 - 16650

Niftyfut Resistance: 17430 -17540 -17740 -17870 - 18067.

Niftyfut Range: 16650 - 18067 for this week (31st to 4th Feb 2022), If it moves above the resistance of 18067 then it can move further till 18244-18350.

BankNifty current price – 37975.35

BankNifty Fut current price – 38113.75

BankNifty Fut Outlook:

Banknifty future has moved from 34150 (20th Dec 2021) to 38965.65 (18th Jan 2022). On 31st Jan 2022, it has closed below the resistance - 38189.00

If today 1stFeb 22 - it opens above or moves above resistance level - 38189, and close above 20DEMA - 37658, then it can move further till 38617 - 38965 - 39053.

If ICICIBANK moves above 811.00, then it can move towards 825 and HDFCBANK moves further towards 1560, then Banknifty can move further higher above 38617.35 and to 39053.

BankNifty Fut Support: 37421 - 37041 - 36540 - 36284 - 35740 - 35346.

BankNifty Fut Resistance: 38189 - 38617.35 - 39053 - 39434 - 40200.

BankNifty Fut Range: 36450 - 40200 for this week (31st to 4th Feb 2022).

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