DATA-DRIVEN ANALYSIS OF NIFTY & BANK NIFTY W/E 12-5-23
- Nifty EOW 18314 (+1.36 Vs +0.02%) & Bank Nifty 43793 (+2.65% Vs -1.32%).
- Nifty has held on to 18000+ levels for the first 2 weeks and Bank Nifty has moved from 42600+ to 43700+.
- India Vix EOW at 12.85 Vs 12.30/+4.47%.
- FIIs became the net buyers for 7750 (+5528) Crores and the DIIs were the net sellers for 1262 (-2735) Crores.
- For the upward move to sustain, 18200 for Nifty & 43000 for Bank Nifty are very crucial levels.
- Unsure if the markets may react to the Karnataka Elections outcome.
- SGX Nifty EOD 12-5 is -67.
Here is the link to the video:
https://youtu.be/C-xNuomO2pg
Insights for 12-5-23
- India Vix ended at 12.85/-2.80%.
- Nifty Lifters (+48) - HDFC Bank (NS:HDBK), Eicher Motors (NS:EICH), ICICI Bank (NS:ICBK), Axis Bank (NS:AXBK) and Bajaj Finance (NS:BJFN)
- Nifty Draggers (-29) - Infosys (NS:INFY), L&T, Hindalco (NS:HALC), Adani Enterprises (NS:ADEL), and Nestle (NS:NEST)
- Bank Nifty Lifter (+237) - HDFC Bank, Axis Bank, and SBI (NS:SBI)
- Bank Nifty Draggers (-11) - Bandhan Bank (NS:BANH) and Federal Bank (NS:FED)
- Even though Nifty broke 18200 on an intraday basis, it recovered well and ended above 18300 which is a good sign.
- Bank Nifty showed great strength and is now at a stone's throw distance from its ATH of 44151.
- The FII-DII data suggests that the coming week may witness increased volatility as the net numbers for the day are almost flat.