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DATA-DRIVEN ANALYSIS OF NIFTY & BANK NIFTY FOR THE WEEK ENDING 4-3-22
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 ongoing war between Russia and Ukraine is not giving any comfort to enter the stock market or analyze the same on a technical basis. When technicals also do not get respected, it is hard to carry out any analysis as emotions are at play in full swing. Additionally, the opportunity is helping FIIs to sell aggressively and create further panic leading to continued bent towards the path of least resistance which is on the downside.
As a result, the upcoming week may turn out to be only an observer’s week than an active trader/investor’s week as has also spiked and the US VIX closed above 30.
BANK NIFTY
EOD on 2-3-22 = 35,372.80
EOD on 4-3-22 = 34407.80 down by 2,023 points or 5.38% from 2-3-22
The highest level in the week ending 4-3-22 = 35,804 on 3-3-22
The lowest level in the week ending 4-3-22 = 34,094 on 4-3-22
Difference Highest-Lowest = 1,710 points or 5.02% from the lowest level
In the last week, has made a down move of 536.50 points or 1.54%.
NIFTY
EOD on 2-3-22 = 16,605.95
EOD on 4-3-22 = 16,245.35 down by 413 points or 2.39% from 2-3-22
The highest level in the week ending 4-3-22 = 16,769 on 3-3-22
The lowest level in the week ending 4-3-22 = 16,134 on 4-3-22
Difference Highest – Lowest = 635 points or 3.94% from the lowest level
In the last week, has made a down move of 360.6 points or 2.17%.
FII – DII DATA:
Period ending 4-3-22
FIIs = -18,615 Crores [week ending 4-3 -19,841 Crores]
DIIs = +12,600 Crores [week ending 4-3 +12,600 Crores]
Net is = -6,015 Crores [week ending 4-3 -6,015 Crores]
KEY LEVELS FOR THE INDICES – on a weekly closing basis
In view of the ongoing situations, it is hard to place any levels in relation to the movement of indices. As a result, I have chosen not to state the resistance and support levels for Nifty as well as Bank Nifty and would wait for not only the war situation to improve but also the state elections’ outcomes to be reacted to by the markets. Hopefully, this would end by 11-3-22.
Note: As of 5th March morning, is indicating a negative close of 102 points at 16,143. This is a big jump, however, what our markets end up in the opening hour on 8-3-22 needs to be seen.
Here is the video link:
https://youtu.be/t8BKixqN9GQ
Posted purely for Educational & Informational purposes only.
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