Nifty50 USD – Why to look at this Index.
- FIIs continue to be the largest shareholders of Indian Stocks at 16-20%
- FII flows still remains a big number. Even though DIIs have now started to change this equation.
- Historically tops of Nifty50 USD have been very important resistances.
Nifty50 USD – The tops act as major resistance !!
- Look at how Nifty went from 6300 in 2010 to 2015. But same highs on Nifty50 USD acted as resistance.
- Nifty went from 11100 and made 3-4 new highs but Nifty50 USD highs acted as resistance.
Nifty50 USD –All time highs.
Again Nifty did cross 2021 highs but got resisted at the same band of 8500 on Nifty50 USD in 2022-2023 and saw a dip every time.
Finally a breakout on Nifty50 USD as well.
So the technical structure becomes much stronger. Does it suggest the FII flows could now change to positive.
BSE Dollex 30
A similar breakout. Can see how exact tops around the same highs. Finally now getting close to a breakout.
A few large-cap stocks nearing major resistances.
Adani Ports
Multiple attempts at the 900-920.
ICICI BANK – A sharp move and back closer to all-time highs.
SBI – 600-620 mark remains a big resistance. Strong base at 530-560.
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