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 Good Morning Traders, PRE MARKET ANALYSIS by Shyam..

Date: 3 January 2022

SGX Nifty: -27
US MARKETS: NEGATIVE
EUROPE: MIXED
ASIAN MARKETS: MIXED

NIFTY & BANKNIFTY LEVELS FOR TODAY.

Nifty 50 Resistance: 17380, 17404, 17445
Nifty50 Support: 17322, 17276, 17235
Bank Nifty Resistance: 35600, 35712, 35906
Bank Nifty Support: 35315, 35150, 35027
(Mark these levels on your Chart)

Our View: As Sgx Nifty indicates, Nifty 50 is likely to open Negative Note. All the world major markets are trading in Negative to Mixed. Omicron cases have increased in US and India too, fundamentally its negative sentiment for investors, but if we see last DIIS & FIIs data was positive. Trading volumes are expecting to be less – so the moment too. Nifty 50 is just about to touch 100 DMA and Bank nifty 200 DMA. If both are sustaining the above levels, can look for long opportunities. Otherwise chance of consolidation or correction. Will not execute fresh trades, at these levels – will wait and watch the Price action.


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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