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 Good Morning Traders, PRE MARKET ANALYSIS by Shyam..

Date: 4 January 2022

SGX Nifty: -10
US MARKETS: POSITIVE
EUROPE: MIXED
ASIAN MARKETS: NEGATIVE

NIFTY & BANKNIFTY LEVELS FOR TODAY.

Nifty 50 Resistance: 17650, 17688, 17750
Nifty50 Support: 17564, 17517, 17445
Bank Nifty Resistance: 36490, 36567, 36645
Bank Nifty Support: 36198, 36124, 35906
(Mark these levels on your Chart)

Our View: As Sgx Nifty indicates, Nifty 50 is likely to open Flat Note. All the world major markets are trading in Negative to Mixed. US markets closed green on the first day of the year. DIIs & FIIs are both on Buy side yesterday and Nifty 50 formed a sizable Bullish candle, today or tomorrow is most crucial day for bulls – whether can they climb and sustain at this levels or they give up? On Dec 13 Nifty tested the same levels and couldn’t sustain, tested recent low i.e. 16407. Now nifty at the same level, once this level get cleared, we can see a good up move. Even bank nifty also stands at important level. One can look for positional opportunity after these levels. If not able to sustain – have to look for price action or shorting entries.
This is the last Pre Market analysis for the YEAR 2021. LET’S MEET ON 2022! Advanced Happy New Year to all TTS FAMILY.

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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