25th Jan 2021 - Nifty / BankNifty Analysis
The Overall Market health is still bullish but relative momentum started to fade-out past two weeks. BankNifty is at critical juncture and the close was exactly at critical support zone. Expecting same amount of volatility in price for the next week but price might balance in a wide range. Let us dive in to the Profiles and charts Weekly Analysis: Nifty Future: NF is comparatively stronger than BNF and Finnifty. NF did not break 18th Jan Low and also repaired all the Anomalies of 19th Jan profile. Refer the chart as follows, Critical support for NF is at 14350 and 14230. Only below 14220, there will be a sharp fall. Major Resistance for NF is at 14490 and 14565, If NF decisively breaks these zones, we can expect another new ATH or even 15000. We can expect zig-zag fast movements in NF and BNF for next week until budget. Refer the weekly profile of Nifty Futures, you can see 14222 being protected for a while and acts as a critical support. BankNifty and FinNifty: ...