NiftyFuture last close: 17361.95 (+1.4%)
Indian equity markets erased losses of the previous two sessions to close a higher on Jan 31
The Sensex was up 814 points while Nifty50 added 238 points to 17339.80
Banknifty index gained 0.75%
Auto, Energy, Pharma and IT indices shot to 1% to 3%
Midcap and Smallcap index added 1% to 2%
Volatility index shot up 6% to 21.80
Centre fiscal deficit rises to 50.4% of FY2022 target in April-Dec 2021
India’s GDP contracted 6.6% in FY2021 lower than previously estimated
Oil posts biggest monthly gain in a year on tight supply as political tension
Govt collects Rs 1.38 lakh crore as GST in Jan 2022
Today’s result stocks Techm, Adaniports, Cholafin and Indianhotel
FIIs net sold 3625 crore while DIIs net bought 3648 crore
US markets ended higher on Monday
Dow rose 406 points and Nasdaq climbed 470 points
SGXNifty indicates a gap up opening for the index
likely to witness highly volatile will be expected during the day ahead of Union Budget
There is no significant open interest in both sides which is indicates the volatility
However, NiftyFuture is facing a intraday resistance 17450 and 17525
Once if breaks and manages above 17525 then will move to 17600
Strong resistance zone around 17600.
After Budget if stays above 17600….. Expecting further rally up to 17670-17750
On flip side, NiftyFuture can be considered as supports as 17330 and 17270
After Budget if sustains below 17270…….Will try to check 17150-17000
More live market update will be sent to my clients only
Updated: 08.40 am / 01st Feb 2022
