05th Jan 2022 #NiftyFuture Intraday Levels and Pre-Market Reports

Last close: 17846.75 (+1%)

On Tuesday, NiftyFuture was opened 17750 then fell to 17632 again bounced back to 17870
On first 30 minutes was seen highly volatile but thereafter moved gradually
The final tally was Nifty50 up 180 points while the Sensex up 672 points
Midcap and smallcap index was gained marginally around 0.25%
Bank index rose almost 1.5%
Private banks Hdfcbank, Icicibank, Kotakbank and Axisbank did very well
Psu Banks SBIN did very well on last two sessions
Volatility index sustained around 16
Brent crude ends up at $80 a barrel
OPEC+ agrees oil output increase from February
FIIs net bought 1273 crore while DIIs net bought 532 crore
US markets ended mixed on Tuesday
Dow rose 213 points, S&P500 lost 3 points and Nasdaq down 210 points
Tech shares declined more then 1.5%
Asian markets struggled for direction in Wednesday early trade

NiftyFuture was formed bullish candle on Tuesday’s trade
As per open interest 18000CE was seen highest OI and PE side there is no significant OI
Which was indicated volatile trade will be expected during the day

However, NF is facing a intraday resistance 17870 and 17910
Above is hurdle for today’s trade…..
Suppose if breaks and sustains above 17910, expecting further rally
On other side, NF can be considered as supports as 17800 and 17770
If breaks and holds below 17770 will try to check next support around 17700

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Updated: 08.50 am / 05th Jan 2022