finnova_

BankNIFTY Sideways prediction for 21 Nov 23

NSE:BANKNIFTY   Nifty Bank Index
BankNIFTY seems to be going sideways in the range of 43400 - 43800 as levels have been marked on the chart.
for past few days BANKNIFTY have been sideways mostly perfect DOJI. level 43400 will be providing a nice support and 43800 will be acting as resistance unless it's broken to the upside.
Reasons:
  1. Expiry is mostly sideways also PCR = 0.65 (Bearish)
  2. 200 EMA resistance to upside. (Bearish)
  3. RSI 40-60 mostly Sideways. (sideways)
  4. Price < 200 EMA (Bearish)
  5. Very nice price action support (4H-tf) downside. (Bullish level)
  6. 43500 has huge PE Calling. (Bullish)

Verdict:
SIdeways range 43400-43800.

Plan of action:
IRON Condor range 43400-43800.

Finnova
Where Finance meets Innovation
כתב ויתור

המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.