DATA-DRIVEN ANALYSIS OF NIFTY & BANK NIFTY FOR W/E 25-11-22
- Nifty has given an ROI of 1.12% (-0.23%) in W4 Nov 2022 & Bank Nifty has given an ROI of 1.29% (0.71%).
- Bank Nifty has hit a new ATH at 43339 & made an ATH weekly close at 42983. Nifty ended the week at an ATH closing of 18512.
- India Vix fell sharply to 13.33.
- FIIs ended up as the net sellers for -1480 (349) Crores and the DIIs were the buyers for 1781 (2275) Crores.
- For Nifty 17800 & for Bank Nifty 41800 are the crucial support levels.
- SGX Nifty EOD at 25-11 is +34.
Session Insights for 25-11-22
- India Vix made a high of 15.77 but managed to end the week at 13.33 which is a marginal decline over 24-11.
- The spike may have been triggered by the AM session pressure on Nifty.
- Bank Nifty hit yet another ATH today, however, it failed to hold on to the 43000+ mark and ended just below the line.
- As against that, Nifty managed to end the week for the first time above 18500 at 18512 which is a welcome change. Nifty is now less than 100 points away from its ATH.
- The sentiment is overall bullish but the technical resistance for HDFC Bank (NS: HDBK ) played out on Bank Nifty and resulted in the fall from the highs.
- With the week ending at higher levels and no trigger until the RBI policy review in early Dec, the indices may consolidate based on global cues.
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