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NIFTY EOD ANALYSIS FOR 23-3-22
O 17405.05
H 17442.40
L 17199.6
C 17245.65/-69.85/-0.40%
BANK NIFTY EOD 36147.385/-201.2/-0.55%
SGX NIFTY at 1845h 17175
INDIA Vix 24.75/+2.83%
FII DII data +187 Crores – FIIs were net buyers for the second day in a row. This may be due to the fact that the DIIs chose to bank gains ahead of the financial year-end.
NIFTY MOVES AS SEEN ON THE CHARTS
- opened with a strong gap up pf 100+ points and then hit one of the intraday resistances at 17442 and then it fell for an hour or so losing more than 100 points.
- Then it rallied around 60+ points creating an intraday higher low and then fell 60+ points and then mildly rallied but failed.
- Then in the hour between 1130-1230, it fell another 100 points and rallied 50+ points and then it yet again fell and breached 17200.
- It then rallied almost 100 points and then yet again got attracted towards 17200 and by EOD managed to close below 17250.
- In the process, it has created a higher high and a higher low.
NIFTY TOP 5 CONTRIBUTORS
Leaders 30
Laggards 69
Net -39
BANK NIFTY TOP 3 CONTRIBUTORS
Leaders 18
Laggards 204
Net -186
POSITIVES
Once again it was Reliance (NS:) that did not turn negative and saved the day for Nifty. The rest of the leaders could not contribute at all.
FIIs were net buyers for the 2nd day and that may be the reason why the further downfall was halted.
NEGATIVES
has again gone up and there was intense choppiness during the session.
HDFC (NS:) twins, Infosys (NS:), & Kotak Bank were the main draggers. Their contribution outweighed the positivity bought in by Reliance & others.
is down by 201 points & HDFC Bank (NS:), Kotak Bank, and SBIN contributed 204 of those. Such was the intensity of selling in them. Are these now stocks now becoming the hammering tools of DIIs?
Please watch this video to know more about it: https://youtu.be/lh3bSegSN54
Not SEBI Registered
This post is shared purely for Educational & Informational purposes only.
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