Nifty hits the milestone of 22000

resr 5paisa Research Team

Last Updated: 15th January 2024 - 04:39 pm

Listen icon

Nifty started the week positively and surpassed the 22000 mark at open on the back of positivity in IT stocks post their quarterly results. The Banking and the Oil & Gas space also picked up momentum during the later part of the day and hence, with the participation from the index heavyweights, Nifty ended the day around 22100 with gains of almost a percent.
 
Our markets have been continuing its uptrend supported by the index heavyweights and the Nifty index reached another milestone of the 22000 mark for the first time. FII’s have over 60 percent of the positions in the index futures on the long side and the technical readings also hint at a positive momentum. In the options segment, the 22000 put option has seen a rise in open interest for the weekly series, while in call options the high open interest is at 22500 followed by 22300 strikes. The index has been trading in a ‘Rising Channel’ and the higher end of the pattern is seen at the 22250-22300 zone. Thus, the index could continue its momentum as some index heavyweights have been leading. On the lower side, 21900 and 21830 are the immediate support levels for the index. Traders are advised to continue to trade with a positive bias toward the primary trend and look for stock-specific buying opportunities.

FREE Trading & Demat Account
Open FREE Demat Account with endless opportunities.
  • Flat ₹20 Brokerage
  • Next-gen Trading
  • Advance Charting
  • Actionable Ideas
+91
''
 
By proceeding, you agree to our T&Cs*
Mobile No. belongs to
hero_form

Futures and Options Related Articles

Time Decay

by Tanushree Jaiswal 11th Oct 2024

Open interest data hints at a consolidation in index

by 5paisa Research Team 27th Feb 2024

New record for Nifty as index surpasses previous high

by 5paisa Research Team 19th Feb 2024

Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing. For detailed disclaimer please Click here.

Open Free Demat Account

Be a part of 5paisa community - The first listed discount broker of India.

+91

By proceeding, you agree to all T&C*

footer_form