Nifty 50指數

1st week of 2023 of #Nifty to start with Data heavy week

94
Busy week ahead

US with center stage taken by labour market report, FOMC meeting minutes, ISM manufacturing and services PMI, foreign trade, factory orders, and Jolts Job Openings.

December- Inflation Data will be released for Euro Area, Germany, France, Netherlands, Turkey, Switzerland, Philippines, and Indonesia.

Investor to brace manufacturing PMIs from China, India, Spain, South Korea, Canada, Italy, and Switzerland.

Technically
Ascending triangle on the daily chart with critical support placed at 17992 dropping below can lead to drop till 17800 or below. Meanwhile resistance is placed at 18330.

Derivative data
Higher Put OI of 2.1Mn placed at 18000 while higher call OI of 2.7M at 18200 will be critical for the bulls to break for upside direction.

Momentum Oscillators
RSI 47.07 (Neutral)

Trend Oscillators
MACD(12,26) 34.65 (Neutral)
ADX(14) 27.4 (Sell) volatility will be high

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