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Good Morning Traders, PRE MARKET ANALYSIS by Shyam..

Date: 28 Dec 2021,

SGX Nifty: +89

US MARKETS: POSITIVE

EUROPE: POSITIVE         

ASIAN MARKETS: MIXED

 

NIFTY & BANKNIFTY LEVELS FOR TODAY.

Nifty 50 Resistance: 17117, 17168, 17218

Nifty50 Support: 16985, 16928, 16902

Bank Nifty Resistance: 35150, 35325, 35429

Bank Nifty Support: 34775, 34601, 34374

(Mark these levels on your Chart)

 

Our View: As Sgx Nifty indicates, Nifty 50 is likely to open Positive Note. All the world major markets are trading in Green to Mixed. What a U turn of the markets! Irrespective of Omicron tensions US & UK markets are rallying, obviously Indian markets will catch up the same direction. Still Bank Nifty is below 200 MA only and Nifty 50 under 100 MA, both will face resistance at these levels, still RSI below 50 only for both. Once it’s cleared we can see a good strength for a healthy up move. Nifty 50 holds 17150 – good for long.

 

For short term view: Till it breaks the major Upside i.e. 17700 – 18000 Level band, will continue our view as BEARISH only.

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