HDFC Twins Save the Day Even as Infy Drags Nifty

HDFC (NS:) Twins Save The Day Even As Infy Drags [2-5-22]

NIFTY O / H / L / C

1924.45/ 17092.25/ 16917.25/ 17069.10 [-33.45/-0.20%]

BANK NIFTY O / H / L / C

36627.60/ 36235.25/ 35618.20/ 36163.75 [+75.60/+0.21%]

20.28/+4.47%

FII DII Knowledge +98 Crores

SGX Nifty @ 1945h -26

TOP 5 CONTRIBUTORS OF NIFTY

Lifters 34

Draggers 38

Web -4

TOP 3 CONTRIBUTORS OF BANK NIFTY

Lifters 408

Draggers 280

Web 128

CHART BASED DETAILS & ANALYSIS IS GIVEN IN THIS VIDEO:

https://youtu.be/KA07CZNK-R0

POSITIVES

ended within the inexperienced.

HDFC twins ended within the inexperienced.

NEGATIVE

Nifty ended within the purple.

Reliance (NS:) gave up 2800+ ranges but once more.

Infosys (NS:) has been experiencing intense promoting and is unable to carry 1550+ ranges.

SUPPORT & RESISTANCE LEVELS –

For the rest of the week, Nifty is more likely to commerce between 16800-and 17400.

&

Financial institution Nifty is more likely to commerce between 35000-37500 ranges throughout the identical interval.

TRADING INSIGHTS & OBSERVATIONS

1. The primary buying and selling session of the month began with an enormous gap-down that examined the resilience of the degrees above 16900 because the Nifty opened at 16924. This down transfer was anticipated as that’s what was indicated by SGX Nifty on 29-4 EOD itself.
2. Nevertheless, it was fairly odd to see the Nifty struggling beneath 17000 when the US Futures together with the US Tech Futures had been buying and selling properly within the inexperienced. And with the gap-down transfer, India Vix additionally shot up again to twenty+ ranges with a 7% spike over the shut of 29-4.
3. One factor I observed through the AM session was that regardless of the FIIs being internet sellers on 29-4, there was no follow-up promoting beneath 16900. This was primarily potential because the HDFC twins had been non-negative and actually, HDFC which is anticipating its outcomes as we speak was up greater than 1% intraday.
4. Nifty suffered lots on account of intense promoting strain in Infosys, SBI (NS:), Kotak Financial institution, and TCS (NS:). And when the biggies are beneath strain ICICI Financial institution (NS:) additionally felt that it mustn’t fall behind and it additionally began buying and selling within the purple.
5. This made it laborious for Financial institution Nifty which was inching in the direction of turning optimistic to fall additional. Within the AM session, Nifty held above 16900 and it stored transferring in a slim vary beneath 17050 because it was experiencing extreme promoting round 17050.
6. At this time the appears to be observing a vacation so the indices could properly have to attend for 1400h or 1500h, when one of many biggies [FIIs/DIIs], could attempt to take the indices within the course during which they intend to.
7. Whereas Infosys is witnessing promoting strain, it was good to see that Reliance was working laborious to get again up above 2800 ranges. I used to be anticipating its outcomes on 29-4, however now there isn’t a point out even when it’s due.
8. If the indices find yourself following the US Futures within the closing play, Infosys could witness some short-covering and if that occurs, Nifty might be able to sail previous 17050 and presumably above the shut of 29-4. If that doesn’t occur, it might be an indication of warning for our markets because the markets take a break tomorrow.
9. Even within the PM session, Nifty stored getting attracted in the direction of the 16975 zone and with every dip in the direction of that, even 17000 gave the impression to be a particularly laborious resistance to clear. This occurred as SBI & Kotak Financial institution began dropping floor at the same time as Infosys was making an attempt laborious to return up from the lows of 1530.
10. Between 0945-and 1445h, Infosys was stored depressed by the pivot resistance in addition to the Tick Common or the Common Commerce Value. It may clear the degrees solely after 1445 – this was the principle purpose why Nifty was additionally stored in verify regardless of the HDFC twins doing their greatest to lend help.
11. And the transfer that normally comes at 1500h, began as we speak at 1445h and ended by 1505h as Nifty shot up 130 factors inside that point after which it was not allowed to clear the shut of 29-4 at 17102. This ensured that Nifty ended the day flat at 17069, nevertheless, due to HDFC Financial institution (NS:), Financial institution Nifty ended within the inexperienced.
12. FIIs are internet sellers so a break of 17000 on 4-5 can’t be dominated out. We should see how the market sentiment is on condition that the Vix has additionally closed above 20.

Be aware: Posted purely for informational & academic functions solely. I’m not SEBI Regd.