Here’s How Analysts View Nifty’s Setup for Jan 27 Ahead of F&O Expiry

  • Investing.com
  • Stock Market News
Here’s How Analysts View Nifty’s Setup for Jan 27 Ahead of F&O Expiry
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The Indian equity benchmarks ended a volatile session on Tuesday in green, backed by a fag-end recovery, recouping losses after witnessing a gap-down open. 

Nifty50 ended the session 0.75% higher and the 30-scrip BSE Sensex climbed 0.64%, led by recoveries in bank, auto and metal stocks. All sectoral indices on the Nifty50 basket, except Nifty IT , ended the session in green. Nifty Bank closed 2.05% higher.

An analyst at HDFC (NS: HDFC ) Securities observes the Nifty50 index to have formed a long bull candle on the daily chart, indicating a ‘counterattack bulls pattern at the lows’.

Volatility in the market is expected to remain as investors await the Fed’s final policy statement, which will provide clarity on the scheduled interest rate hikes. Furthermore, the monthly futures & options series will be expiring on Thursday.

Head researcher at Kotak Securities advises that if Nifty manages to hold the 17,000-17,100 support zone, then traders could expect up to 17,450 level.

Market analysts believe that the domestic index is all set to show an upside bounce, while Manish Shah, an independent analyst sees the underlying sentiment in the index to have turned marginally bullish.

He warned that on a day to day basis, the Nifty will continue to be volatile and one can expect some knee-jerk reactions during the day, noted a CNBC TV-18 report.

Besides, companies including Indus Towers (NS: INUS ), Punjab National Bank (NS: PNBK ), Canara Bank (NS: CNBK ), Bharat Heavy Electricals Ltd. (NS: BHEL ) and Coforge (NS: COFO ), among others will be releasing their earnings results for the December quarter on Jan 27.

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  • Dipak Bhatt @Dipak Bhatt
    Today the Nifty may close around 17000 today
    Like 1
  • Ramesh Kannan @Ramesh Kannan
    US 2 year Bond rose more than 5% in a day. This is an early indicator of fund flow from equities market to bond market. I expect Nifty to trade below 18K at least until the election results. 16500-17800 is the range and it will move sideways
    Like 3
  • VIVEK DESHMUKH @VIVEK DESHMUKH
    FED & RUSSIA...main causes for the market in recent.... Till Indian market any way didn't volatile (as other market) expected... some waves expects ....and....then....BOOOOM
    Like 0
  • Sandeep Tiwary @Sandeep Tiwary
    gapup and then huge selling...else gapdown after us falls tonight
    Like 1
  • RAVI SEKHAR @RAVI SEKHAR
    Recovery will be more from bank side, but IT will compensate, so the overall gain in nifty may be lethargic
    Like 0
  • RAVI SEKHAR @RAVI SEKHAR
    Recovery will be more from bank side, but IT will compensate, so the overall gain in nifty may be lethargic
    Like 1
  • Prem rao @Prem rao
    Don't worry guys, INDIA is the safest haven for investment under Modi leadership, I can clearly see 18400 above by 04 feb
    Like 5
  • F.M. Lakhani @F.M. Lakhani
    Forget technical analysis , derivatives etc until Russian stand clear on war .
    Like 8
  • Pradeep Bisht @Pradeep Bisht
    17k will break before 1st week of feb
    Like 1
  • Fanibhusan Rout @Fanibhusan Rout
    Yes its look like gap-up open at 17425
    Like 3
  • Shiv Hari @Shiv Hari
    We can expect nifty to touch 17600 on Jan monthly expiry, as per Option chain analysis 17000 is strongest support.
    Like 3
  • Ramesh Kannan @Ramesh Kannan
    Its pretty clear that FII is in selling mode all out and DII buying marginally, considering the market moving side ways for prolonged period, DII would only buy deep for better returns. Therefore Nifty will test 16500 levels in the next few days and DII will open the corpus, market will move up
    Like 12
  • Himanka Baruah @Himanka Baruah
    Sir what is the probebility of next day market
    Like 0
  • Himanka Baruah @Himanka Baruah
    Sir what is the probebility of next day market
    Like 0

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