NIFTY PREDICATION TODAY FOR TOMORROW

Overview 

NIFTY (21,570) Nifty Today open with gap down due to heavy selling in HDFC bank after results showed heightening levels on his credit and deposit ratio as the RBI was also comforts its levels. HDFC bank which is top private leader bank and highest weighted stock on the Blue Chips. 

Nifty50 Trend

Nifty today falls about 460 points form his TOP and loose his strength by GAP Down opening. It was lead by HDFC Bank due to results showed heightening levels on his credit and deposit ratio. Heavy Weighted Stock was fall today about 9% from this TOP. We team is viewing is good opportunity to buy other corrected stock before Public Budget-2024 and  good for swing trading perspective. On more some correction may be good upto 21480 which is again level for fresh buying. Traders may accumulate stock from this current point for swing trading. However, Investor no needs to be more panic it is common and not any bad impact in view of long prospective of market. 

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FII & DII ACTIVITY 

FII Derivative Market Activity 

Also Read : How to Predict Bank Nifty Movement in Advance?

What do by FII & DIIs  :-

Today FII  buy and DII both has sold. Overall  today market was in selling side. It is  for some days only and FII may also wait for result of ICICI Bank and other some high weighted stock for fresh buying. While retail investor going for bearish and the same time we may see FII for good buying. We will also observe Selling/buying  mixup sentiment on tomorrow as market is now oversold zone . 

PUT CALL RATIO NIFTY 

•  PCR indicate Nifty is near about oversold.

RSI ON VARIOUS TIME FRAME

RSI indicate a dead cat bounce is expect for tomorrow on more  some panic or may be raised with gap up opening 

Also read :

NIFTY Prediction Today for Tomorrow (01.02.2024) | Nifty Predication Today

HIGHER OPEN INTEREST 

Dow Jones Industrial & Wall Street prediction:-

 Dow Jones trading in range since last about 04 weeks any side brakup may be good move as above a above 37785 and short below 37200.Wall Street on trading on 37220 about 120 points down from his last closing and may be more panic below 37200. Next support for wall street is 37135. 

SUPPORT AND RESISTANCE FOR INTRADAY (18.01.2024) :-

Nifty last closed at 21570 below this level may see more some down side but we are expected to move down below 21463 as the major support for nifty and good opportunity level for fresh buying for swing trading perspective. 

NIFTY Support         21,570 – 21463 – 21360

NIFTY Resistance     21700- 21832 -21908

Strategy for Next day (18.01.2024) 

 We will not short nifty on 18.01.2024 as a dead cat bounce is expected or may be in range below further upside move. Tomorrow also  weekly expiry of nifty and selling will hold the market. We only plan for buying of observing 15 Min high break by market.  30 min range of  first half  is also important if break upside we will trade with day low SL. 

Niftypredictiontoday.com

Also read :- Latest News for next year

Nifty50  15 Min Chart

Niftypredictiontoday.com

Banknifty Trend

BANKNIFTY (46064) Nifty BANK Today open with gap down due  about unexpected 1551 points from this last closing with reason of heavy selling in HDFC bank after results showed heightening levels on his credit and deposit ratio.Bank Nifty is now in week zone in daily basis untill reclaim his 48000 level which seems some hard before budget. However no any clearly say what will be happen in market in next day. It is only expectation which basis on the technical analysis by out team and professional software. Bank Nifty below 46000 level we see more panic updto 44700 as Nifty Bank may fill his last gap. BankNifty loose his 40 days gain in single days which shwos now weakness in bank nifty rather than Nifty. ICICI Bank result may also impact on Nifty Bank if similarly happen as HDFC Bank. 

Banknifty 15 Min Chart

(Disclaimer- this information is only for education purpose , please consult your financial advisor to take any trade)

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By Moneyalexa

On Jan 4, 2024