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DATA-DRIVEN ANALYSIS OF NIFTY & BANK NIFTY FOR THE WEEK ENDING 25-2-22
This is a weekly post where I briefly capture the key highlights of the 2 leading indices. This post is supported by a video that takes you through the details of how I have arrived at the analysis. I encourage you to view the video as well since not everything can be captured in a document form.
I hope that this effort would help the readers and viewers to get a crisp idea about what happened in the markets over a period of one week.
Important –
The week that concluded today was one of the worst weeks that I have experienced so far in my trading journey leaving aside the Covid-era related challenges faced. On 24-2, fell more than 900 points, and 2000+ points when compared to the close of 23-2. This happened as Russia invaded Ukraine and officially it was recognized as a war on Ukraine. Our indices witnessed extreme pressure as FIIs joined the party and aggravated their selling. The indices made some recovery on 25-2 but I am unsure about the duration up to which the same would last. also crossed 32 on 24-2 so it was terrible for the investors in particular and many of the trends following traders would have laughed their way to the banks.
In my view, Nifty close on 2-3-22 is critical as we have a holiday on 1-3, and in recent times, a lot can and has happened in 1 trading session so please be extremely cautious in your approach – we need to survive first and then thrive.
BANK NIFTY
EOD on 1-2-22 = 38505
EOD on 25-2-22 = 36430 down by 2075 points or 5.39% from 1-2-22
The highest level in the week ending 25-2-22 = 38054 on 21-2-22
The lowest level in the week ending 25-2-22 = 34991 on 24-2-22
Difference Highest-Lowest = 3063 points or 8.75% from the lowest level
In the last week, Bank Nifty has made a down move of 1168 points or 3.11%.
NIFTY
EOD on 1-2-22 = 17576
EOD on 25-2-22 = 16658 down by 918 points or 5.23% from 1-2-22
The highest level in the week ending 25-2-22 = 17351 on 21-2-22
The lowest level in the week ending 25-2-22 = 16203 on 24-2-22
Difference Highest-Lowest = 1148 points or 7.00% from the lowest level
In the last week, Nifty has made a down move of 618 points or 3.58%.
FII – DII DATA:
Period ending 25-2-22
FIIs = -41765 Crores [week ending 25-2 -19,841 Crores]
DIIs = +38,337 Crores [week ending 25-2 +21,510 Crores]
Net is = -3,428 Crores [week ending 25-2 +1,669 Crores]
KEY LEVELS FOR THE INDICES – on a weekly closing basis
BANK NIFTY
As of now, the index is the bear grip and it needs to the following week above 38000 before I can analyze the levels as given in the earlier weeks. The reason is that the uncertainties related to the ongoing tension between Russia-Ukraine need to settle down so that the indices may be able to start functioning in the normal course.
NIFTY
As of now, the index is the bear grip and it needs to the following week above 17200 before I can analyze the levels as given in the earlier weeks. The reason is that the uncertainties related to the ongoing tension between Russia-Ukraine need to settle down so that the indices may be able to start functioning in the normal course.
Note: As of 26 Feb morning, SGX Nifty is indicating a positive close of 317 points at 16976. This is a big jump, however, what our markets end up in the opening hour on 28-2-22 needs to be seen.
Here is the video link:
https://youtu.be/NIW54KV27uQ
Posted purely for Educational & Informational purposes only.
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