Intraday study for Indian indices for 12th December 2022
Hi Good Morning
On Friday as the Level of 18500 broke down we see a sudden swift fall towards 18400 which is not good and indication of correction but in the closing market try to recover which is a false bounce because as i told you that 18500 is the most important support and US market is in waiting for the FED policy on 14th December and the whole downside is sponsor by the HCLTECH NEWS which drag the IT indices and that drags the Nifty
The Banknifty is in consolidation and relatively strong as soon as gets the good news shows up move
Noe if talk about the levels of nifty and banknifty
Nifty:--
The support is placed at 18275-18325 and 18177-18252 with the resistance of 18500
Banknifty:---
the support is at 42800-43100-43300 with the resistance is at 43650-43800
Sector and stocks:--
Avoid for now all the sector and stocks in any direction till the FED Policy
Recovery of upside may be possible from extreme lower levels
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
On Friday as the Level of 18500 broke down we see a sudden swift fall towards 18400 which is not good and indication of correction but in the closing market try to recover which is a false bounce because as i told you that 18500 is the most important support and US market is in waiting for the FED policy on 14th December and the whole downside is sponsor by the HCLTECH NEWS which drag the IT indices and that drags the Nifty
The Banknifty is in consolidation and relatively strong as soon as gets the good news shows up move
Noe if talk about the levels of nifty and banknifty
Nifty:--
The support is placed at 18275-18325 and 18177-18252 with the resistance of 18500
Banknifty:---
the support is at 42800-43100-43300 with the resistance is at 43650-43800
Sector and stocks:--
Avoid for now all the sector and stocks in any direction till the FED Policy
Recovery of upside may be possible from extreme lower levels
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
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