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Nifty Futures Analysis-23Jan2023

The above chart shares the Nifty Futures Technical Analysis.

Nifty futures are currently consolidating, but they are still in uptrend. They are correcting from highs made in Nov 2022.

Please note that Nifty futures did not undergo similar correction as S&P500 and Nasdaq100 futures in Nov-Dec 2022, so there is scope for some correction here.

Nifty Futures Trading Strategy: Currently, it’s sideways market, so all positions must be light, or no positions at all. Nifty futures will offer a good buying opportunity around 17,700 to 17,800 level, which near the lows of Dec 2022. Those levels can offer buying support and we can see a reversal towards 18,500 to 18,600.

Nasdaq Futures Analysis-22Jan2023

Nasdaq futures (NQ) haven’t looked back after creating the strong double bottom base on 6th Jan 2023 with closing at 11,113. We got six consecutive green days after that, which indicates the strength of the bottom made in early Jan.

The Nasdaq futures made a strong base at 10,800 and our early buy signals on the hourly charts came at 10,800 itself, for targets of 11,500 and 11,600, which were hit last week.

The setup is looking good for testing 12K level, and buying on the recent correction around 11,350 gave good gains. All these updates were also posted on Twitter in real time, to help other Traders.