BANKNIFTY analysis for 15 NOV (today)

BankNifty has been in the rising wedge pattern which is usally Bearish Pattern. as it has also been taking resistance from the 1H-tf trendline. also its expiry today that means mostly its sideways. But if it breaks the rising wedge to downside it might give a nice target of 350-400 points to bearish side.
Reason:

1. EMA 200 support line to downside. will provide a nice support if it breaks to downside. (Bearish)
   
2. we also have Priceaction support level in range of 43350-43450. (Bearish)
   
3. RSI is in range of 40-60 means mostly sideways. (Sideways)
   
4. PCR = 0.96 (Bullish)
   
5. Price > EMAs(13,50,200) (Bullish)
   

Verdict:
Unless it breaks to downside odds are Bullish

Plan of action:
Sell 44000 CE and Buy 43900 PE

Kommentar:

Market seems to open Gap-up wait for it