DATA-DRIVEN ANALYSIS OF NIFTY & BANK NIFTY FOR THE WEEK ENDING 18-2-22

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 –

During the week, made 2 lows below 17000 and just above 16800. This is not a good sign as the index along with has been very volatile throughout the week. The volatility was on account of the tension between Russia and Ukraine, however, our markets reacted as if these two are our neighboring countries. Even the Russian markets did not react to the negativity that our markets have.

The above also triggered accelerated selling by the FIIs and on one of the days even the DIIs were net sellers. has remained above 21 and touched even 23+ which is causing all the pains in the market.

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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 18-2-22 = 37599 down by 906 points or 2.35% from 1-2-22
The highest level in the week ending 18-2-22 = 38461 on 16-2-22
The lowest level in the week ending 18-2-22 = 36651 on 15-2-22
Difference Highest-Lowest = 1810 points or 4.94% from the lowest level
In the last week, Bank Nifty has made a down move of 917 points or 2.38%.

NIFTY
EOD on 1-2-22 = 17576
EOD on 18-2-22 = 17276 down by 400 points or 2.28% from 1-2-22
The highest level in the week ending 18-2-22 = 17490 on 16-2-22
The lowest level in the week ending 18-2-22 = 16809 on 14-2-22
Difference Highest-Lowest = 681 points or 4.85% from the lowest level
In the last week, Nifty has made a down move of 98 points or 0.57%.

FII – DII DATA: Period ending 18-2-22
FIIs = -21,924 Crores [week ending 18-2 -12,214 Crores]DIIs = +16,827 Crores [week ending 18-2 +10,591 Crores]Net is = -5,097 Crores [week ending 18-2 -1,623 Crores]

KEY LEVELS FOR THE INDICES – on a weekly closing basis

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BANK NIFTY
To regain bullish momentum 39000 and above
Crucial Support – 37600-37800
Potential Change of Trend – 37300 and lower

NIFTY
To regain bullish momentum 17600 and above
Crucial Support – 17100-200
Potential Change of Trend – 17100 and lower

Here is the video link:
https://youtu.be/hrfMYOLDRT4

Posted purely for Educational & Informational purposes only.


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