Nifty and bank nifty index 24/01/22
Charts and index daily #11
Nifty 50 current price – 17617.15
Niftyfut current price – 17617.80
Niftyfut Outlook:
Niftyfut has moved from 16450 (20th Dec 2021) to 18363.50 ( 18th Jan 2022). On 21st Jan 2022, it has closed at 17617.80 30min 20EMA – 17684.23
If today 24th Jan it opens above - 17684.23 and moves above the resistance level 17900, it can move further till 18067 -18244 – 18600, otherwise nifty will see short term correction to 17400 - 16800.
Unless nifty cross 18067 in future, it was not advisable to go long in nifty future.
Niftyfut Support: 17540 -17430 - 17306 - 17004 - 16850 - 16650.
Niftyfut Resistance: 17740 -17870 - 18067 -180244 -18350 -18438 -18600
Niftyfut Range: 16650 - 18067 for this week (24th to 28th Jan 2022), If it moves above the resistance of 18067 then it can move further till 18244-18350.
BankNifty current price – 37574.30
BankNifty Fut current price – 37598.05
BankNifty Fut Outlook:
Banknifty future has moved from 34150 (20th Dec 2021) to 38965.65 (18th Jan 2022). On 21st Jan 2022, it has closed at support - 20DEMA - 37587.00
If today 24th 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 21st Jan 2022 - HDFCBANK 1521.60 (0.83%) closed at day high and taken support at 1503 (200 ema) and ICICIBANK - 804.50 (-0.71%) closed negative below support price 810.90.
If ICICIBANK moves above 811.00 on Monday, 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: 37041 - 36540- 36284 - 35740
BankNifty Fut Resistance: 38189 - 38617.35 - 39053 - 39434 - 40200
BankNifty Fut Range: 36450 - 40200 for this week (24th to 28th Jan 2022).
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