Nifty and bank nifty index 21/01/22

Charts and index daily #10

Nifty 50 current price – 17757.00

Niftyfut current price – 17808.00

Niftyfut Outlook:

Niftyfut has moved from 16450 (20th Dec 2021) to 18363.50 ( 18th Jan 2022). On 20th Jan 2022, it has closed at 17757.00 30min 20EMA – 17863.07

If today 21th Jan it opens above - 17863.07 and moves above the resistance level 18067, it can move further till 18244 – 18600, otherwise nifty will see short term correction to 18000-17500.

Unless nifty cross 18067 in future, it was not advisable to go long in nifty future.

Niftyfut Support: 17870- 17740 -17540 -17430

Niftyfut Resistance: 18067 -180244 -18350 -18438 -18600

Niftyfut Range: 17430 - 18438 for this week (17th to 21st Jan 2022), If it moves above the resistance of 18067 then it can move further till 18244-18350.

BankNifty current price – 37850.85

BankNifty Fut current price – 37998.00

BankNifty Fut Outlook:

Banknifty future has moved from 34150 (20th Dec 2021) to 38965.65 (18th Jan 2022). On 20th Jan 2022, it has closed below support - 38189.20

If today 21th jan22 - it opens above or moves above resistance level - 38617.35, then it can move further till 38965 - 39053 - 39434 - 40200.

otherwise, if HDFCBANK and ICICIBANK start falling before the budget, we can expect bank nifty to break 38189.20 and move further till 35800.

Yesterday 20th Jan 2022 - HDFCBANK -1509.00 fell (-0.62%) and taken support at 1503 (200 ema) and ICICIBANK - 810.25 (0.20%) closed positive at support price 810.90

If ICICIBANK and HDFCBANK take support from here and move further up, Banknifty can move further higher above 38617.35 and to 39053.

BankNifty Fut Support: 37400 - 36449 - 36822 - 35600

BankNifty Fut Resistance: 38617.35 - 39053 - 39434 - 40200

BankNifty Fut Range: 36450 - 40200 for this week (17th to 21st Jan 2022).

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