Data-Driven Analysis of Nifty & Bank Nifty w/e 27-1-23

  • Stock Market Analysis
  • Editors Pick

Following are a few data-driven insights related to Friday's session for Nifty and Banknifty. As we know, the Nifty has fallen around 3.5% in two days and Banknifty has fallen by 5.6% in the same period. As such, the views below primarily relate to the numerical and data-driven analysis of the indices. We have a separate article already shared that talks about how the indices are placed on the chart.

  • Nifty EOD 27-1 17604 & Bank Nifty 40348.
  • Nifty has given an ROI of -2.38% (0.40%) in W/E 27-1-23 & Bank Nifty has given an ROI of -5.09% (0.32%). 
  • Bank Nifty’s low for the week was at 40148 & Nifty weekly low was at 17493. 
  • On a weekly basis, there is a sharp drop in the lower base.  
  • India Vix ended the week 17.32. This is a very big upward move and is not a good sign.
  • FIIs ended up as the net sellers for 9352 (2461) Crores and the DIIs were the net buyers for 7211 (3384) Crores. 
  • Since the next week also has the release of the Union Budget, I am unsure of which way the indices may move as they have already been adversely impacted by the sell-off in Adani Group shares
  • SGX Nifty is at 17,719 at 23:07 on 29th Jan 2023. This means that we cannot rule out a gap-up opening.

It is also important to keep in mind that this week will bring several key events. After the Union Budget, we also have the Fed's interest rate decision which may cause some reaction in the market.

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