Fresh Peak in the Market
Analysis , Weekly
Last Expiry – Fresh Peak in the Market. NIFTY 50 Previous week another milestone 21,000 level was past and sustained above it. Market was volatile and very bullish. BANK NIFTY Last week BANKNIFTY remained highly volatile and and closed on a very positive note. ……. Fresh Peak in the Market, this week will there be […]
Last Expiry – Fresh Peak in the Market.
NIFTY 50
Previous week another milestone 21,000 level was past and sustained above it. Market was volatile and very bullish.
BANK NIFTY
Last week BANKNIFTY remained highly volatile and and closed on a very positive note.
…….
Fresh Peak in the Market, this week will there be another new high, Technically?
NIFTY 50
View :
At a new all time high, yet another landmark tested, 21,000 level. Volatility is anticipated.
Price action on daily time frame looks positive avoid shorting at all cost. Very Bullish.
At an unknown horizon, volatility is expected to remain
Important Levels
- Resistance – 21,500 -21,600
- Support – 21,000 – 21,300
- No trading Zone – 21,400 -21,500
Please follow the link to see the detail chart analysis.
–Click Here :Charts for 21st December, 2023 Expiry
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BANKNIFTY
View :
Price action is very bullish.
On daily time frame, there has been a strong buying after a dip and buying continues.
And even on a shorter time BANKNIFTY is a buy on dip.
Important Levels
- Resistance – 48,400 – 48,500
- Support – 47,950 – 48,000
- No trading – 48,400 – 48,500
Please follow the link to see the detail chart analysis.
–Click Here :Charts for 21st December, 2023 Expiry
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What lies beyond this milestone, Will Data Support?
FII & DII Activity
Observations:
FII & DII data suggest market to remain volatile, as the market is at all time high:
- Outstanding puts is 1.38L against 0.77k calls – Heavier on the bear side.
- Last session FII futures activity – Positive.
- FII stocks is 9.2K Cr – Does not hold relevance for intraday but swing wise positive.
- Net Future OI change = have risen to +50.1K , Looks positive.
Open Interest (OI)-
OI data suggest market to remain volatile, market at all time high, very bullish.
Nifty OI
- Max OI Calls:: 21500 , 0.73 Cr
- Max OI Puts:: 21000, 0.99 Cr
- PCR:: 1.1
Note:: OI suggests strong support at 21000 , and a Resistance at 21500.
Banknifty OI
- Max OI Calls:: 48000 , 0.28 Cr
- Max OI Puts:: 47000 , 0.31 Cr
- PCR:: 0.9
Note:: OI suggests very strong support at 47000 , but Resistance at 48000. Likely a rangebound between 47,000 & 48,000.
Please follow the link to see the detail chart analysis.
–Click Here :Data for 21st December, 2023 Expiry
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Market Sentiments
World Markets – World market traded mostly bullish.
GIFT NIFTY FUTURES – Closed around 21,550 at 01:15am 16-12-2023.
Events Upcoming
Fig. Events this week
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The above analysis is solely the opinion of the author, no way an assured tips/direction to trade, they are solely for educational purposes. Please do not trade with out a proper study and analysis, we will not be responsible for your loss. We are not SEBI registered.
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