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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 –

During the week, made a high of 17639 and also closed after the weekly expiry above 17600. Earlier in the week, Nifty also made a low of 17040 so the 599 points recovery was seen as a great relief.

However, the tables turned as soon as the market opened on 11-2 and Nifty reversed the gains as it fell to retest 17300. The global cues have impacted our indices more than the US indices which are the mother indices to the global indices.

has itself seen intense volatility which again is derived from its US counterpart and unless things stabilize in the US, our VIX will keep rubbing itself on the gains made.

So please be cautious in your approach – we need to survive first and then thrive.

BANK NIFTY

EOD on 1-2-22 = 38505
EOD on 11-2-22 = 38517 up by 12 points or 0.03% from 1-2-22
The highest level in the week ending 11-2-22 = 39197 on 10-2-22
The lowest level in the week ending 11-2-22 = 37319 on 8-2-22
Difference Highest-Lowest = 1878 points or 5.03% from the lowest level
In the last week, has made a down move of 272 points or 0.72%.

NIFTY

EOD on 1-2-22 = 17576
EOD on 11-2-22 = 17374 down by 202 points or 1.15% from 1-2-22
The highest level in the week ending 11-2-22 = 17639 on 10-2-22
The lowest level in the week ending 11-2-22 = 17043 on 8-2-22
Difference Highest-Lowest = 596 points or 3.50% from the lowest level
In the last week, Nifty has made a down move of 141 points or 0.80%.

FII – DII DATA:

Period ending 11-2-22
FIIs = -9,710 Crores [week ending 11-2 -5,640 Crores]
DIIs = +6,236 Crores [week ending 11-2 3,562 Crores]
Net is = -3,474 Crores [week ending 11-2 -2,078 Crores]

KEY LEVELS FOR THE INDICES – on a weekly closing basis

BANK NIFTY

To regain bullish momentum 39000 and above
Crucial Support – 37800-38000
Potential Change of Trend – 38000 and lower

NIFTY

To regain bullish momentum 17600 and above
Crucial Support – 17200-300
Potential Change of Trend – 17300 and lower

Here is the video link:
https://youtu.be/G0YWpil6JDE

Shiv