Wkly Market Analysis Journal on Nifty BankNifty for Jan 1 2024

Nifty and BankNifty performed positively to close higher by 2% almost at all time high levels. Price action was strong with buying on every dips and steady up move forming a bullish candle on weekly basis.
Rollovers were good in Jan expiry mostly Longs.
FII long position is around 67% and Short position at 33% saw
FII Net buying this week.
Futures saw Open Interest addition with increase in price.
Nifty Support is around 21500-21700 as saw huge CE addition with a small resistance at 21800 above can test 22000+ levels in coming week.
BankNifty Support is around 48000-48200 as saw CE addition with resistance at 48500.

US Markets also trading strong at all time high levels.
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