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NIFTY WRAP UP & FORECASTING

January 10, 2022

The BSE sensex closed the shop at 60,395UPby 650 points and the Nifty close the day at 18,003 byadding190 points.

On the Upside: UPL, Heromoto, Titan, Sbin
On the downside-Wipro, Nestleind, Divislab, Asianpaint

Tech View:- Morning Session, We have seen The BSE Sensex was up 459 points at 60,203, while the NSE Nifty was at 17,937, higher by 124 points. Nifty have reclaim its 18000 mark, Made a high of 18017 and settled 18009 with 196 point gain and the BSE index ended at 60,395, up 650 points and hit an intra-day high of 60,427.
Indian Vix:- was UP around 0.4% closed 17.68.
Sectoral,The BSE MidCap index added 0.7 per cent while the BSE SmallCap index gained 1.2 per cent. Nifty PSU Bank made a gain of 3.2% ; Where Nifty Media perform well with the gain of 2.3%.
Nifty have formed a Bullishcandleon daily chart, as nifty have crossed 18000 mark which is the good sign for investor and here forward immediate hurdle will be 18250-17350, RSI and MACD supporting positive trend, However;17900-17800 will act as support.

European & USA markets: @ IST 5:00 European markets were trading at Negativenote. Where the Germany’s DAX tradingNegativeby 0.39 %, Other hand France’s CAC40 indexrunningNegativeby 0.37% where, England’s FTSE100 indexNegativeby 0.12%.
Where; wall street @ IST 05:00The DOW future contract tradingNegative 2points, S&P 500 Future trading Negative 7points, Where; Nasdaq100 futureNegative 62points.

Global News Analysis:

Australia- Australia must “push through” the fast-moving Omicron outbreak, Prime Minister Scott Morrison said on Monday, as infections surpassed 1 million, more than half in the past week alone, throwing a strain on hospitals and supply chains.
LONDON -Banks in the European Union became more profitable in the third quarter of 2021, with government support during the pandemic helping to push down the number of loans that turn sour, the EU’s banking watchdog said on Monday. .
PAKISTAN – Pakistan has asked the International Monetary Fund (IMF) to delay a board meeting meant to consider the country’s sixth review until the end of January, the finance ministry said on Monday. .
LONDON-Oil prices edged up on Monday as supply disruptions in Kazakhstan and Libya offset worries stemming from the rapid global rise in Omicron infections

USA:-Emerging economies must prepare for U.S. interest rate hikes, the International Monetary Fund said, warning that faster than expected Federal Reserve moves could rattle financial markets and trigger capital outflows and currency depreciation abroad..