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January 28, 2022

The BSE sensex closed the shop at 57,200DOWNby 77 points and the Nifty close the day at 17,101 byloosing8 points.

On the Upside:-NTPC, UPL, Sunpharma, Tataconsumer
On the downside-Maruti, Techmahindra, Powergrid, Icicibank

Tech View:- the indices opened on a positive note. The BSE Sensex was up 500 points at 57,774, while the NSE Nifty was at 17,258 higher by 148 points. BSE rally to hit a high of 58,084-mark up by 807 points, However; soon after Sell off drag the market negative zone where BSE close at 77 poins down and The Nifty50 shut shop at 17,102, down 8 points or 0.05 per cent. It was 271 points lower from its intra-day high of 17,373.

Sectoral, , the BSE MidCap and SmallCap indices bucked the trend and ended 1 per cent higher each other side sectoral; financials and autos were the only losers today. The NIftyBank index slipped 0.7 per cent while the Nifty Auto index dropped 0.6 per cent.

Nifty have formed a Bearishcandleon daily chart , we have witnessed sell of from the day high. RSI is in to oversold zone and MACD indicating negative trend, We may see market will move in range 16900-17200 ; therefore; going forward 16800-16900 will be acting as a support zone and 17250-17350 acting as a resistance.

European & USA markets: @ IST 4:40 European markets were trading at Negativenote. Where the Germany’s DAX tradingNegativeby 1.90%, Other hand France’s CAC40 indexrunningNegativeby 1.52 %where, England’s FTSE100 indexNegativeby 1.22.
Where; wall street @ IST 04:40The DOW future contract tradingNegative108 points, S&P 500 Future trading Negative8points, Where; Nasdaq100 futurePositive38points.

Global News Analysis:

LONDON- Oil prices rose on Friday, heading towards a sixth consecutive weekly gain, as geopolitical tensions continue to raise supply concerns.
USA:-The U.S. economy notched its strongest growth in nearly four decades in 2021 after the government pumped trillions of dollars in COVID-19 relief, and is seen forging ahead despite headwinds from the pandemic, strained supply chains as well as inflation.
INDIA:-Persistently high inflation will haunt the world economy this year, according to a Reuters poll of economists who trimmed their global growth outlook on worries of slowing demand and the risk interest rates would rise faster than assumed so far.
EUROPE:- Euro zone economic sentiment deteriorated in January, data showed on Friday, pulled down by a more downbeat sentiment in the two key sectors of industry and services.
JAPAN:-Japan’s factory output likely slid in December for the first time in three months due to lingering supply bottlenecks, a Reuters poll showed.