Daily Stock Market Report: January 15
Following Friday's breakout from the descending channel, the index sustains its upward momentum in the ongoing trend.
Nifty 50 commenced the day positively, experiencing an opening gap of 158.60 points (+0.72%). Despite an initial dip in the index during the first few minutes, bulls regained control, propelling it beyond the opening price and concluding above the 22000 benchmark.
Nifty 50 concluded at 22097.45, with a gain of 202.90 pts or 0.93%.
Key Observations:
- Following Friday's breakout from the descending channel, the index sustains its upward momentum in the ongoing trend.
- Keep riding the trend as long as it lasts. Any dips here on would be an opportunity to add longs to the existing positions / to enter new ones.
Spot Signals
Below is the Top Mover from our Live Market Feed:
- MANINDS (+1.99%)
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Quant Signals
Under the most popular configuration:
- 'Quick Short' ended the day with a return of +0.36%.
- While 'Back Up' didn't generate a signal today as it didn't meet its quantitative metric.
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Broker Signals
Here are today's top positions that closed and met its target:
- TVSMOTOR (+32% in 2 months)
- MGL (+21.6% in 2 months)
More signals recommended by brokers are currently live. Check them out below.
Coming back to the report…
Data Points
The highest CE OI is 22300, and the PE is at 22000 levels. This suggests that the markets are expected to revolve around these levels in the upcoming session.
Levels Worth Monitoring Tomorrow
Today’s opening gap is an immediate support in the upcoming session, serving as optimal entry points for new positions and providing short-term traders with an opportunity to place trailing stop-loss orders just below the gap.
Disclaimer: The opinions expressed in this blog are personal views and should not be considered financial advice. Please do your own research and consult with a professional before you make any investment decisions.
