ilmscore | Nifty at 22000 | What next? | CA Rachana Ranade

Nifty at 22000 | What next? | CA Rachana Ranade

Published: 2024-01-15
Status: Analyzed

Predictions from this Video

Total: 5
Correct: 5
Incorrect: 0
Pending: 0
Prediction
Topic
Status
HDFC Bank appears to be forming an inverted head and shoulder pattern on its daily chart, suggesting a potential for significant upward movement if its upcoming earnings are positive.
"Now if you look at the daily chart for this now I'm just going to zoom out a little bit now if you can see this it's kind of forming an inverted head and shoulder pattern here kind of okay so if now here if tomorrow we can see a big candle then it will be fun to watch because this is a heavyweight champion in Nifty so we'll be really interested to we'll be really interested to see how the results come out for HDFC bank tomorrow and if they are good then we can see some nice atishbazi in Nifty as well."
HDFCBANK
Correct
ICICI Bank is at a crucial resistance level, and its upcoming results will determine whether it continues to face resistance or breaks out to new all-time highs.
"And right now again it is at that same crucial level right now so again how does the result come out on this Saturday will decide its move whether it takes a resistance and falls or whether it breaks out of the resistance and moves higher than the all-time highs"
ICICIBANK
Correct
Nifty IT index is expected to reach its all-time highs as it has crossed the 78.6% Fibonacci retracement level.
"this is the all-time high for Nifty IT. I'll just adjust it I've not put the magnet on it's okay so uh here you can see this is where the Nifty IT high is placed and we are not we have not yet crossed that. Now if you look at Fibonacci I'm just going to draw it from here all okay from here to a lower level okay then you'll be able to see that we have already crossed the 78.6% retracement and ideally if that be so it should be able to reach the all-time highs"
Nifty IT Index
Correct
Based on option chain data, Nifty could potentially reach 22,200 levels due to trapped traders at 22,000 and 22,100 resistance levels.
"Now if you see here right now um Nifty right now as I shoot the video which is 15 Jan somewhere around 215 Nifty is at around 22,067 and this is the option chain for this Thursday and you can see here 1 lakh 1,000 is the call options data at 22,000 mark. Even if you see 22,050, 52,000 so a lot of action is happening here even at 22,100 there is a lot of resistance which is being built here but if the market still keeps on going higher you can imagine the number of people which can get trapped here at 22,000 level and 22,100 level so there could be chances that Nifty can zoom up to 22,200 levels also"
Nifty
Correct
Positive bank results this week could push Nifty to 22,200; negative results might lead to a pullback.
"Let's see if it keeps on giving support if the results that come out in this week specifically related to Banks if they give a good support to Nifty it may take Nifty higher to 22,200 levels if the results are bad then maybe this could be the high and we may see some sort of you know pullback from Nifty."
Nifty
Correct