Amidst negative signals from SGX Nifty, the Indian markets are expected to open with consolidation. Weakness of 21 points is being seen in SGX Nifty. On December 31, the BSE Sensex had climbed 459.50 points to close at the level of 58253.82. At the same time, the Nifty50 index closed at the level of 17354 with a gain of 150 points. This was the highest closing since December 13. Along with this, Nifty had formed a bullish candle on the daily chart.
If you look at the chart of Nifty, then there is important support for it at 17261.46 and 17168.83. At the same time, there is a resistance of 17493.43 on the up side at 17423.77.
Here we are telling you about some such factors, on the basis of which it will be easy for you to catch profitable deals.
Global signs mixed on the first day of the new year
On the first trading session of the new year, signals from the global market are mixed. SGX NIFTY is under slight pressure. But there is a jump of 170 points in DOW FUTURES. Japan’s market is closed in Asia today.
On the last day of the year, US markets closed on a decline. The Dow had lost 60 points on Friday. The Nasdaq was also down about 0.6% due to pressure in tech stocks. The Dow and the S&P 500 closed higher for the fifth consecutive month. The Nasdaq had closed for the 6th consecutive month. Crude oil was under pressure on Friday. Brent was down 2%. The 10-year US bond yield has reached 1.51%. US futures appear to be on the rise despite rising Covid cases. Uncertainty persists due to the rise in Corona cases. Many festive flights have been canceled due to Omicron’s rise in cases.
Vaccination of children of 15-18 years from today
The third wave of corona has intensified. Meanwhile, the vaccination of 15-18 year olds will start from today. Yesterday, 3,194 cases were reported in Delhi. At the same time, 8,063 new corona cases came in Mumbai yesterday. The cases of Omicron variants in the country have crossed 1000.
Share Market Live Update: SGX NIFTY is giving indications, Indian market may start flat
what is the strategy on nifty
Giving his opinion on what should be the strategy on Nifty, Virendra Kumar of CNBC-Awaaz said that its first resistance zone is 17407-17473 and the big resistance zone is 17516-17563. Its first base zone is 17288-17253. At the same time, the larger base zone is 17204-17169. The target of 17410 has been achieved on Friday. Was asked to stay long even in closing. All data is looking good. The figures for FIIs are also good. There is also more trust in put writers. So stay long, buy every fall till base first. The first target can be seen 17500-516 and then 17563.
strategy on nifty bank
Talking on why strategy on Nifty Bank, Virendra Kumar said that its first resistance zone is 35610-35730 and big resistance zone is 35870-35980. Its base zone is 35374-35251 and the larger base zone is 35153-35020. The 200 DEMA is drawn after 9 sessions. Now if 37730 turns out to be a big short covering. There is 20 DEMA at 37730. If this turns out to be a short term base. So stay long, buy every fall till base first. If 35730 turns out, a big uptrend is possible.
Sales of TATA Motors increased, Maruti decreased
Auto sales figures in December have been mixed. There has been a jump of 24 percent in the domestic sales of TATA MOTORS. But Maruti’s sales have declined by more than 4 per cent. M&M has sold 11% more vehicles. However, tracker sales have come down by 19 per cent. EICHER MOTORS sales have been good in December. There has been an increase of 7 in the sales of ROYAL ENFIELD. But there has been a decline of about 12 percent in the sales of HERO MOTO. ESCORTS sales have also been weak. Its sales have come down by 39 percent.
GST recovery exceeded Rs 1 lakh crore in December
For the sixth consecutive month in December, more than Rs 1 lakh crore GST has been collected. The gross GST collection in December 2021 has been Rs 1,29,780 crore. Which has been slightly less than the November GST collection. Let us inform that in November, the gross GST collection stood at Rs 1.31 lakh crore, which was the second highest figure after the implementation of GST. The Finance Ministry has said in a statement about this that despite the decline of 17 percent in the e-way bills generated in November 2021 this month, the GST collection has been close to Rs 1.30 lakh crore. In November 2021, 61 crore e-way bills were generated while in October 2021, 7.4 crore e-way bills were generated. This statement further said that due to the improvement in tax compliance and better performance of the tax officers of the Center as well as the states, the GST collection in the month of December has been seen to be around Rs 1.30 lakh crore.
FII and DII figures
Foreign institutional investors bought Rs 575.39 crore in the Indian markets on December 31. On the other hand, domestic institutional investors bought Rs 1,165.62 crore on this day.
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