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NIFTY 50 EOD ANALYSIS 15-2-22
In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow.
O 16933.25
H 17375.00
L 16839.25
C 17352.45
EOD +509.65 points / +3.03%
SGX Nifty 15-2-22 @ 1820h = +24
FII DII = Not yet available
CHART BASED CONCLUSIONS using 5 Minutes Chart
opened with a 75+ points gap-up and then retested the previous close in the opening hour. It then moved sideways for an hour.
And then it took support around 16850 and made a one-way climb with a couple of mini sell-offs. Nifty ended near its day high which was around the close of 11-2.
In the process, Nifty has made a higher high and a higher low.
NIFTY WEIGHT LIFTERS & DRAGGERS
Top 5 Lifters contributed = 199
Top 5 Draggers contributed = 4
Net = +195
BANK NIFTY WEIGHT LIFTERS & DRAGGERS
Top 3 Lifters contributed = 819
Top 3 Draggers contributed = 0
Net = +819
POSITIVES
Yesterday, only TCS (NS:) featured here and today everything is positive as all the index heavyweights have gained significantly and neutralized the negativity.
The real positivity would re-commence if the heavyweights keep scaling higher levels from tomorrow.
NEGATIVES
None that I could see.
TRADING RANGE FOR 16 Feb 22
Nifty Support – 16800-900
Nifty Resistance – Let us see how it plays out tomorrow.
support – 36200-500
Bank Nifty resistance – Let us see how it plays out tomorrow.
INSIGHTS / OBSERVATIONS
- Overnight a long meeting of the big players was held and they concluded that neither Russia leading a coup in Ukraine nor the ABG Shipyard (NS:) related fraud matter would be the main issues of concern as of 1100h on 15-2. And that is what happened.
- Or the swing happened as the FM was to address the SEBI board? Anything is a possibility in the markets.
- I am sure the retail traders/investors would have rejoiced as the indices bounced back [I am one of them]. However, there is no cause to celebrate as Nifty ended close to the 11-2 weekly close and Bank Nifty is still a few hundred points below the 11-2 close. So today’s move is a consolation at the most for those who do not trade.
- On a net-net basis, 2 categories of market participants made money in the last 3 sessions – the brokers & the Govt. For the majority of the rest, it would have meant a neutral or slightly red end to these 3 sessions.
What do you feel about this?
Here is the link to the video:
https://youtu.be/nMa9H-u7Bsw
The post is for educational & informational purposes only.
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