All have a question in mind when FIIs will come back to India and we wanted to put this question to the rest and the same is going to happen in the last quarter of the calendar year—October to December 2023 as India and the USA are expected to see interest rate cuts. "When that happens, India will start to look very attractive. Maybe a quarter before that, you will start seeing aggressive FII buying coming in.

2 days of good rally and short covering. Data suggests a range of 18000 to 18180. Clear buy on dips. If we get a dip as per SgX then we wait for the first hour for the markets to settle and then we look for a trade. 

Nifty. Support is placed at 18000 and 17955 and resistance at 18180, and 18255.

BankNifty. Support is placed at 42400 and resistance at 43100.

The banking sector is riding on a strong credit cycle, and even volatile banks are going from half a book to one book or maybe to two and a half books given the credit cycle remains very strong for a long time

Bank Nifty Future Tomorrow

BankNifty Spot View For: 28/12/2022

Cmp: 42859.50

Support & Downside Range: 42393--42228---42000 zone, 41569

Resistance & Upside Range: 42955.40 zone, 43275—43614.65

Short Term Trend Reversal Level: -- 43614.65

Trading View: In today’s trading session key level to watch is 42393 support and 42955.40 rest break of either side we may see next move break below 42393 we may fall towards 42228—42000 whereas break above 42955.40 we may see 43275 to 43614.65 levels in between 42393—42955.4 premium eating move.

Check our daily Bank Nifty Future Tomorrow and start trading like a professional. As a small Reminder to exit stock options today itself as tomorrow is monthly expiry and option can lose value quickly.

Banknifty live update CMP 42935 downside now 4 2 9 0 0 is crucial support if this gets a break and we get proper 15-30 mins sustain below it then we may get a pause in an uptrend in bank index and we may fall downside intraday 42695 minimum to max 42393 spot levels till we are above 4 2 9 0  0 spot bank index remains sideways to bullish and move can extend upside towards 43180—43280 so understand the importance of 4 2 9 0 0 above and below behavior of bank nifty.

While India's per capita GDP is low at about $2,500, the global average is between $10,000 and $12,000, which gives it headroom to catch up in the next 20 to 30 years and thus India is going to be a preferred destination for FIIs in the year 2023.

Tomorrow Final Expiry of 2022!

Can we see a big trending day?

Make use of our BankNifty Future Tomorrow and be a part of winning team.

Update

Market closes flat after a rangebound session

Sensex slips 17 points to 60,910 & Nifty 10 points to 18,123

Midcap index gains 42 pts to 31,326 while Nifty Bank slips 32 pts to 42,828

Trading Gyan of the day

Always keep an eye on Bank Nifty Future level wrt Spot and if this gap is too much on higher side i.e Future price is very much higher as compared to spot than chances of market falling exists.

Why moves from 2 days are violent but no specific move?? 

Ans: Fiis are on holiday. They have 0 participation. Christmas have 1 week holiday. Participants will come after 3rd jan. 

So, if any option seller will put sell order of 50k quantity on any strike. Big candle 🕯 will come. 

Some handful of traders can manipulate easily low volume market. 

Volumes before the start of Christmas are weak... you cannot say Correction is over or Rally unless volumes are not coming.

Premiums of Calls are not diluting from past 3 days. But, premiums of puts diluted to 0.

This shows heavy put writing and no significant call writing. 

This situation always dangerous... Because it bring waterfall candle.

As there are low volumes... Market will be manipulated by Some 5 to 10 traders in last hour. So caution is the keyword.