Today in final hour profit booking dragged the index 1 %
with nifty closing below 18200 and Sensex falling over 500 points amid selling
seen across the sectors. Market opened on a positive note, but wiped out
initial gains and turned negative on weak global cues, including rising US
treasury yield and oil price at more than seven years high amid supply concern
after drone attacked at United Arab Emirates. However, indices managed to
regain the lost ground in the afternoon session but final hour selling dragged
the indices near the day's low. At present, the
index has support at 18000 levels while resistance comes at 18300 levels,
crossing above the same can show 18500-18600 levels. On the other hand, Bank
Nifty has support at 37800 levels while resistance at 38600 levels.
Tradable Ideas On Banknifty for 19/01/2022
RESISTANCE: 38772, 39276,40092
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