DATA DRIVEN ANALYSIS OF NIFTY & BANK NIFTY FOR THE WEEK ENDING DECEMBER 17, 21 This is a new weekly post / series in which I will briefly summarize the main highlights of the two leading indices. This post is backed by a video that walks you through the details of how I got on the analysis. I encourage you to watch the video as well, as not everything can be captured in a document form. I hope these efforts would help readers and viewers get a clear picture of what has been happening in the markets over a period of a week. Important – Although the markets are very difficult to predict in the short term, the main problem right now is that the markets have been extremely volatile, even on an intraday basis. This can affect the traders who trade on an intraday basis. If you are such a trader please be careful and make risk management the highest priority. BANK NIFTY The comparison is made with 1-12 numbers as the beginning of the month. EOD on 1-12-21 = 36364 EOD on 17-12-21 = 35618 up -746 points or -2.06% from 1-12-21, the highest reading for the week ending 17-12-21 = 37581 on 13-12-21 The lowest level in the week ending on 10-12-21 = 35535 on 17-12-21 Difference high-low = 2046 points or -5.76% from the lowest level In the last week,
has made a downward movement of 1487 points or 4.01%, which is a declining sign
The comparison is made with 1-12 numbers as the beginning of the month. EOD on 1-12-21 = 17166 EOD on 17-12-21 = 16985 increased by -181 points or -1.05% from 1-12-21 in the week on December 17, 21 = 17629 on December 13, 21 The lowest level in of the week on 12/17/21 = 16966 on 12/17/21 Difference highest – lowest = -663 points or -1.91% of the lowest level In the last week,
has made a downward move of 526 points, or 3.00%, which is a bearish sign. FII – DII DATA: DEC 2021FIIs = -26,684 CroresDIIs = 19,487 CroresNet = -7,197 CroresBased on last week’s results, I estimate a net FII DII sale of 12,500 crores and as it stands now, unfortunately, we seem to be the target to reach. Conclusion: 17630 at Nifty and 37600 at Bank Nifty are the levels that must be overcome on a closing basis in order for the bulls to regain momentum. A closing price below this would still only offer intraday and swing opportunities.
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