Market Analysis Journal on Nifty BankNifty for Nov 21st 2023
Nifty opened around Previous day’s close to sell off towards Previous day’s low after failing to break day’s high and was side ways in 2nd half of trade.
Price action was weak and sideways closed above 5 & 21 DEMA forming a Doji (with not so small body) kind of candle pattern with slight decrease in Open Interest. Support seen at 19600 levels.
BankNifty continued its weakness couldn’t sustained above day’s high and was range bound, couldn’t gain strength in 2nd half.
Price action was weak and sideways couldn’t close above 5 & 21 DEMA forming a Doji candle pattern (signifies confusion) with minor decrease in Open Interest. Resistance seen at 43900 levels.
US futures were flat with no major events /news expected today. Crude oil was trading strong up by 1%.
Price action was weak and sideways closed above 5 & 21 DEMA forming a Doji (with not so small body) kind of candle pattern with slight decrease in Open Interest. Support seen at 19600 levels.
BankNifty continued its weakness couldn’t sustained above day’s high and was range bound, couldn’t gain strength in 2nd half.
Price action was weak and sideways couldn’t close above 5 & 21 DEMA forming a Doji candle pattern (signifies confusion) with minor decrease in Open Interest. Resistance seen at 43900 levels.
US futures were flat with no major events /news expected today. Crude oil was trading strong up by 1%.
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