Through this article, we are going to discuss what you can expect on Monday through our Nifty prediction for the day.

Nifty Spot View: 09/01/2023
Cmp: 17859.45
Support & Downside Range: 17795--17775
Resistance & Upside Range: 17950—18047--18132
Short Term Trend Reversal Level: --

Nifty Monday Prediction

Trading View: In today's gap-up market key level to watch is the 17950 spot level if we break and sustain above this level then the short-term bias of the market again turns sideways to bullish and slowly and steady we may move upside towards 18047—18132 in a day or two whereas now downside new leg of selling will start only once we get close below 17795—17775 spot levels.

Try our Nifty Monday Prediction and be on the right side of the market.

Bulls can use Reliance for a pre-budget rally till reliance trades above 2500 spot levels now it's in bulls' camp for a pre-budget rally CMP 2562

Book all your shorts and till we do not go below the 17795—17775 nifty spot we may not see new selling pressure in the market and most likely we might see a strong #lPRE BUDGET rally in our market from friday low

Update

Reliance up move is the reason we have changed our outlook that we might get a nice pre-budget rally new leg of selling now only below 17795—17775 spot levels... tomorrow TCS will give us confirmation that will it join Reliance in pre-budget rally or not because today after market hours it's numbers coming so tomorrow if we get a follow-up buying and up move in TCS than it is going to be another confirmation that yes we are now in the middle of a prebudget rally and remaining days of Jan we may not fall much and we may see strong upside rally in Nifty.

Nifty options live update: 18000/18100/18200 call writers doing unwinding which is giving an indication that even 18100 and 18200 call writers' confidence is going down and they thinking that we might touch 18200 today this is an interesting one and it is just 11.10 am still a long way to go till we close today

Nifty last Friday at 2.31 pm gave an alert that nifty has formed a double bottom at the 17795 spot and above 17853—17870 spot nifty can move towards 17903—17950 and above 17950 alert gave that bias may turn sideways to bullish again and now #nifty trading at 18105.

Stock Update

Bataindia multiple double bottom at 1600 spot levels now stock is weak and fresh leg of selling comes on daily close below 1600 if not than in coming it has a potential to move upside towards minimum 1759 and max 1806—1854 spot levels.. #cmp 1642