Nifty 50 IndexLong
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.
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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