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Good Morning Traders, PRE MARKET ANALYSIS by Shyam..

Date: 5 January 2022

SGX Nifty: -42

US MARKETS: POSITIVE

EUROPE: POSITIVE         

ASIAN MARKETS: NEGATIVE

 

NIFTY & BANKNIFTY LEVELS FOR TODAY.

Nifty 50 Resistance: 17841, 17867, 17914

Nifty50 Support: 17750, 17711, 17688, 17643

Bank Nifty Resistance: 36903, 37119, 37260

Bank Nifty Support: 36645, 36489, 36353

(Mark these levels on your Chart)

 

Our View: As Sgx Nifty indicates, Nifty 50 is likely to open Flat to Negative Note. All the world major markets are trading in Positive to Mixed. US markets closed green. DIIs & FIIs are both on Buy side yesterday and Nifty 50 formed a Bullish candle, today if Nifty 50 & Bank nifty able to sustain above PDH then follow the upside. If not, (or) in yesterday’s range – stay light, since tomorrow is weekly expiry handover to options writers. After a vertical moment need a break for index to get the strength or decide the further moment.

 

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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