NIFTY AND BANK NIFTY ANALYSIS
21 Oct 2022 1930 Hrs IST
1. US market is bullish to neutral. Europe is consolidating. whereas Asia looks weak with nikkei down 0.8%
2. SGX Nifty is indicating 57 pts up @ 17577.
3. India VIX is down at 17.22
4. Reliance and ICICI Bk is looking strong ahead of results .
5. HDFC Bank is bullish and TCS and Infy has made bullish candle.
6. However Relaince is repeatedly facing RESISTANCE at 2500 which is 200 SMA.
7. There has been no substantive selling by FIIs.
Verdict.
1. I remain Bullish on the market with 17625 and 16700 as the next tgt.
2. Bank Nifty is also bullish and any dip due to volatilty in ICICI bank result can be bought into.
3. If IT supports nifty, then it is better to trade nifty long than Bank nifty because of high volatility Due to ICICI bank result.
THE VIEWS ARE PERSONAL PLEASE USE THIS INFO TO HELP YOUR DECISION MAKING.
1. US market is bullish to neutral. Europe is consolidating. whereas Asia looks weak with nikkei down 0.8%
2. SGX Nifty is indicating 57 pts up @ 17577.
3. India VIX is down at 17.22
4. Reliance and ICICI Bk is looking strong ahead of results .
5. HDFC Bank is bullish and TCS and Infy has made bullish candle.
6. However Relaince is repeatedly facing RESISTANCE at 2500 which is 200 SMA.
7. There has been no substantive selling by FIIs.
Verdict.
1. I remain Bullish on the market with 17625 and 16700 as the next tgt.
2. Bank Nifty is also bullish and any dip due to volatilty in ICICI bank result can be bought into.
3. If IT supports nifty, then it is better to trade nifty long than Bank nifty because of high volatility Due to ICICI bank result.
THE VIEWS ARE PERSONAL PLEASE USE THIS INFO TO HELP YOUR DECISION MAKING.
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