Daily Chart Report 🎉 Sunday, January 1st, 2023
Yearly Summary
Indices: Nifty 50 17,8,105.30 +4.33% | Sensex 60,840.74 +4.44% | Nifty Smallcap 9731.30 -13.80%
Sectors: 6 of the 10 sectors closed higher. PSU Bank gained +70.67%. IT dropped -26.04%
Commodities: Crude Oil futures gained +32.53% to ₹6,555 per barrel. Gold futures gained +9.66% to ₹55,017 per 10 grams.
Currencies: USDINR raised +11.07% to ₹82.71.
Interest Rates: India's 10-year Government yield gained to 7.33%.
Chart of the Day
Today’s chart of the day is shared by RB (@Rahulb1sht). Nifty PSU Bank index has been the best-performing sector of 2022, with a whopping gain of 70.67%. Currently, it’s facing an overhead supply from a decade old resistance near 4475. There’s a lot of price memory here. Will 4th time be any different? Let’s keep a watch.
Nifty IT index has been the worst performing index, with a decline of -26%. Currently, it’s forming a base consolidation for over 8 months. A clear resolution to the upside or downside will decide the direction for this sector.
“A mind all logic is like a knife all blade. It makes the hand bleed that uses it.” - Rabindranath Tagore
Top Links
Buying Support May Cushion Declines- Markets 360° with Vijay Bhambwani
In this video, Vijay Bhambwani shares the technical outlook for major market indices.
Milan Vaishnav, CMT, MSTA, breaks down this week's price action and highlights some key levels of interest in Nifty Sectors using RRG.
Top Tweets