Pre Market Update - Jan 12th - Nifty / Bank Nifty, Stocks In News

NIFTY Analysis (Time Frame-1Hr)

Yesterday NIFTY 50 closed today at 17895.70, which is -0.10% down from the last trading session. Nifty bounced back in the first hour from the demand zone of 17828 and then rejected from 17974 as marked resistance on the chart. The whole day it was range bound and continuously found support on the 17872 level marked as support. A minor trendline is formed, which needs to break for any upside movement.

Bank Nifty Analysis ( Time Frame-1Hr)

Bank Nifty was +0.52% positive yesterday and closed at 42232.70. It bounced from the demand zone from the 41916 level and faced rejection from the trendline. It was rejected several times from the trendline and closed above the resistance of 42174. It formed a range on the upper half of the body of the first one-hour candle which is a positive sign. The consolidation range need to break for any upside move.    

Stocks in News

• Q3FY23 Results-Capfin India Ltd posts PAT of Rs. 0.45 lakhs.
  
• Q3FY23 Results-Bajaj Global Ltd PAT rose to 2.88 Cr 
• Q3FY23 Results-Ashiana Housing reported 877 cr worth of units during the nine months ended 31st December 2022 (FY 2022-23)
  
• Atishay Ltd wins an order from Central Pollution Control Board.

SGX NIFTY

SGX Nifty is trading at 17997 level at 8.30 AM and is Indicating a flat to minor gap up opening.

by
Dixit from MT Team
Equity Research Analyst (Technical & Fundamental). Experienced Index Analyst.