Nifty Bank IndexLong
NIFTY AND BANK NIFTY ANALYSIS 23 DEC 2022
23 Dec2022 2045 Hrs
1. US, Europe and Asia is bearish but looks oversold.
2. SGX Nifty is indicating 94.5 points cut @ 18083. Any break of 18050 - 18000 levels will bring nifty to bearish territory. next sp is @200 SMA 17211.
3. Bank Nifty is indicating 250 points cut @ 42150 levels. bank Nifty has sp at 42100 levels. Any break of this will be bearish and next sp is at 41600.
4. HDFC Bank is still in the range. It has sp at 1603. ICICI Bank is bearish. Reliance is at it crucial 50 &200 SMA Sp level.
Analysis.
1. Since nifty and Bank nifty will be gapping down at its crucial sp levels, there may be a pull back of 300 points on Bank nifty and 100 odd points on nifty after the initial gap down. However overall structure remains sell on rally.
1. US, Europe and Asia is bearish but looks oversold.
2. SGX Nifty is indicating 94.5 points cut @ 18083. Any break of 18050 - 18000 levels will bring nifty to bearish territory. next sp is @200 SMA 17211.
3. Bank Nifty is indicating 250 points cut @ 42150 levels. bank Nifty has sp at 42100 levels. Any break of this will be bearish and next sp is at 41600.
4. HDFC Bank is still in the range. It has sp at 1603. ICICI Bank is bearish. Reliance is at it crucial 50 &200 SMA Sp level.
Analysis.
1. Since nifty and Bank nifty will be gapping down at its crucial sp levels, there may be a pull back of 300 points on Bank nifty and 100 odd points on nifty after the initial gap down. However overall structure remains sell on rally.
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