MARKET MONITOR: EICHER, BAJAJFINSERV, ASHOKLEYLAND

MUMBAI, 3 JANUARY

NIFTY-50 OUTLOOK
NIFTY-50 has witnessed a strong breakout above 24,000 levels with positive momentum across sectors and now the support moves higher to 23,800 levels. f The resistance would be near to 24,350 followed by the monthly pivot resistance of 24,600 levels over the next few weeks. f RSI has pierced from its daily averages and other key technical indicators are strongly positive from current levels. f Highest call OI has moved higher to 24,500 strikes while the downside the highest put is at 23,800 for the weekly expiry.  

BANK NIFTY OUTLOOK
Bank Nifty has witnessed strong move and now eying the band of averages crossover of the 50–100-day averages placed at 51,900 levels. f On the downside the support of 50,500 will be a reversal point and any minor pullback to the average support of 51,200 would be a good entry point. f RSI is moving higher above the average line, and we expect the positive momentum to continue with the broader up move in the sector. f Highest call OI has moved higher to 53,000 strikes while the downside the highest put OI is at 51,000 for the monthly expiry.  

(Disclaimer: The information provided here is investment advice only. Investing in the markets is subject to risks and please consult your advisor before investing.)

(સ્પષ્ટતા: અત્રેથી આપવામાં આવતી તમામ પ્રકારની માહિતી કોઇપણ પ્રકારે રોકાણ/ ટ્રેડીંગ માટેની સલાહ નથી. બજારોમાં રોકાણ જોખમોને આધીન છે અને રોકાણ કરતા પહેલા કૃપા કરીને તમારા સલાહકારની સલાહ લો.)