Monday, 27 December 2021

Banknifty prediction from 28th December to 3rd January 2022

Banknifty investing and trading in the last week of December

Banknifty is in a critical position. Today, Banknifty future closed at 35100.

Is banknifty bullish?

BNF cash levels took support on 233 ema on the daily chart. This double bottom formation in the daily chart indicates a possible bounce up.

BNF levels for the December expiry

Source: Rajendra Suryawanshi Stock Market Academy

7 Factors influencing the Indian market now

1. Indian market fell by 8%, which is the least compared to the international market. This might allow the Indian market to bounce. 

2. Fear actor on Omicron reduced for now. 

3. Number of weekly expiries reduced to 4 from 7. This will impact FII and PRO traders' trading strategies. 

4. Depreciation of Indian currency 

5. FIIs took out 4 billion USD from India 

6. Astrological forecasts for next week 

  •  Monday is moon star day, so the market might be confusing. Monday's high and low break will decide the following few days' trends. 
  • Tuesday market opens strong, but the overall trend might be bearish 
  • Wednesday will be Rahu star day, and we might observe colossal volatility. I expect the day's end will be vital. 
  • Thursday's first half will be bullish. 
  • Friday and following Monday (3rd January) might be the bullish day. 

 7. Future and option data:

The market is in buy bias. We can expect mild to a strong positive movement for the next few days.

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