NIFTY AND BANK NIFTY ANALYSIS 08 DEC 2022
07 Dec 2022 2000 Hrs
TOMORROW IS EXPIRY AND WILL BE VOLATILE.
1. US and Europe is bearish but entering oversold territory.
2. Asia is bearish.
3. SGX Nifty is up 45 points @18713. This amounts to 43200 for Bank Nifty.
4. Hdfc Bank is oversold and looks bullish. It is struck in a range.
5. ICICI Bank has taken sp at yesterday low . Any break of today's low will open further downisde. This will counter HDFC Gains.
4. Reliance is looking extremely bearish and has been in a down trend for the past three days.
5. Nifty is clearly bearish and has closed almost at today's low.
6. Bank Nifty is struck in a range between 43300 -43000. This is because of counter moves of ICICI Bk and HDFC Bank.
7. where as Nifty is on a downtrend due to reliance and Icici bank pulling nifty down.
Analysis
1. Bank nifty will be choppy tomorrow. Any break of 43000 will be bearish. call OI is highest @ 43300, 43200 and Put OI is highest @43000. If 43000 is broken, next tgt will be 42500.
3. Nifty has res @ 18600 and sp at 18500.Any pull back to 18600 can be sold into.
TOMORROW IS EXPIRY AND WILL BE VOLATILE.
1. US and Europe is bearish but entering oversold territory.
2. Asia is bearish.
3. SGX Nifty is up 45 points @18713. This amounts to 43200 for Bank Nifty.
4. Hdfc Bank is oversold and looks bullish. It is struck in a range.
5. ICICI Bank has taken sp at yesterday low . Any break of today's low will open further downisde. This will counter HDFC Gains.
4. Reliance is looking extremely bearish and has been in a down trend for the past three days.
5. Nifty is clearly bearish and has closed almost at today's low.
6. Bank Nifty is struck in a range between 43300 -43000. This is because of counter moves of ICICI Bk and HDFC Bank.
7. where as Nifty is on a downtrend due to reliance and Icici bank pulling nifty down.
Analysis
1. Bank nifty will be choppy tomorrow. Any break of 43000 will be bearish. call OI is highest @ 43300, 43200 and Put OI is highest @43000. If 43000 is broken, next tgt will be 42500.
3. Nifty has res @ 18600 and sp at 18500.Any pull back to 18600 can be sold into.
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