Nifty Guide for Tuesday

Nifty Spot View: 24/01/2023
Cmp: 18118.55
Support & Downside Range: 18015—17972--17905
Resistance & Upside Range:18135--18162—18185--18215
Short Term Trend Reversal Level: --
Trading View: In today's trading session and monthly expiry week key level to watch is 18015 spot if we slip below it than we may see weakness and sideways market towards 17972—17905 spot levels whereas if 18015 gets hold than we may slowly move upside towards 18135--18162 zone minimum and max 18185—18215 spot levels.

Trade with our Nifty Guide and you are good to start making profit everyday.

Yesterday was a decent rally as said. Today we may open around 90 points gap up. The gap should not be chased. It's too much when we see the range of the last 3 weeks. Nifty has been trading in the range of 17800 to 18250 since 3 weeks and this range should break sometime during the budget.

If markets break on either side, we may see a decent 500 point swing move in thr direction of the break. It depends at what level we enter the biggest event which can change the trend. Till then, it's time to go slow on trades. No delivery trades.

Nifty. Yesterday levels worked perfectly. Same levels will work today. Resistance at 18140 and 18255. (SPOT levels)

Sell on rise today.

Chart: NIFTY confirmed a break above 18100. 

Open Interest:

Lot of put addition and call unwinding. 18100 is a strong support now.

PCR: 0.8 - Starting to be bullish

FII Option:

65k calls bought

FII Futures Data:

900 Cr buy

FII Stock Data:200 Cr - Irrelevant

Nifty live options update : cmp18139 here fight going on between 18100 call and put writers where both have almost same oi standing now as per the data if nifty moves above 18150 spot by or before 2.30 pm than we may see up move in last 1 hr whereas if nifty moves below 18050 spot by 2.30 pm than we may see weakness in the market till than nifty remains in range of 18050—18150 and try to eat the premium of this monthly expiry week.

ECONOMIC DATA TODAY (USA)

8:15: Flash Services PMI Forecast 45.3 Previous 44.7

8:15: Flash Manufacturing PMI Forecast 46 Previous 46.2

8:30: Richmond Manufacturing Index Forecast -5 Previous -1

Trading Gyan

Stop chasing opportunities that are already gone, prepare yourself for the upcoming ones, then make sure you remain calm when the time comes.

T+1 Settlement

This is with reference to the SEBI circular regarding implementation of T+1 Settlement Cycle for the Equity Segment in a phased manner. In view of the above, we are updating you about such securities which are qualified for the T+1 Settlement Cycle, with effect from January 27th, 2023.

Please note that if any of the stocks bought by you on January 25th, 2023 are from the list that have been transferred to the T+1 Settlement Cycle, the same will be visible in your portfolio on January 30th, 2023.