#Markets a head! #Nifty 50 #Bearish mat hold pattern

2022年12月18日

Mounting recession worries amid aggressive policy tightening by major central banks lead to a global recession risk next year. Market discounting the risk and have fallen over 3% from its 52% high.

Week ahead
It will be a busy week in the US with the most important releases including the PCE price index, personal income and spending, CB, and the University of Michigan's consumer sentiment and durable goods orders. Elsewhere, Japan and Canada will release inflation data and the Bank of Japan will hold a monetary policy meeting. Also, investors will follow German’s Ifo Business Climate, and consumer confidence readings from Euro Area and UK, and Germany.

Technically
Support levels will be 18220/18043/17860, worse case will be 17680
Resistance levels will be 18516/18800/19042

Option chain
Put OI: 18000 have maximum Put OI of 5.4Mn which is likely to give additional support to nifty
Call OI: While, 8.7Mn Call OI at 18600 will resist the market.

Oscillators

RSI: 26.384 (Suggest bearishness)
MACD(12,26) : -70 (Suggest sell)
ADX(14): 65.780 (Suggest sell)
ATR(14): 60.9967 (Highly volatile)