Nifty and bank nifty index 25/01/22
Charts and index daily #12
Nifty 50 current price – 17149.10
Niftyfut current price – 17151.65
Niftyfut Outlook:
Niftyfut has moved from 16450 (20th Dec 2021) to 18363.50 ( 18th Jan 2022). On 24th Jan 2022, it has closed at 17151.65 30min 20EMA – 17332.00
If today 25th Jan it opens above - 17332.00 and moves above the resistance level 17808.00, 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: 17004 - 16850 - 16650 - 16486 - 16163.
Niftyfut Resistance: 17306 - 17430 -17540 -17740 -17870 - 18067.
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 – 36947.55
BankNifty Fut current price – 36966.85
BankNifty Fut Outlook:
Banknifty future has moved from 34150 (20th Dec 2021) to 38965.65 (18th Jan 2022). On 25th Jan 2022, it has closed below the resistance - 37041.40
If today 24th jan22 - it opens above or moves above resistance level - 37041.40, and close above 20DEMA - 37528.65, then it can move further till 38189 - 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 24th Jan 2022 - HDFCBANK 1486.65 (-2.30%) and taken support at 1476.00 and ICICIBANK - 798.45 (-0.75%) closed above support price 20DEMA- 793.23
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: 36540- 36284 - 35740 - 35346.
BankNifty Fut Resistance: 37041 -37421 - 38189 - 38617.35 - 39053.
BankNifty Fut Range: 36450 - 40200 for this week (24th to 28th Jan 2022).
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