Nifty Bank IndexLong
NIFTY AND BANK NIFTY ANALYSIS FOR 10 NOV 2022
10 NOV 2022 0845 Hrs
1. US has Pulled back by 1.5 -2 %, which is not good .
2. However Europe and Asia are down by Just 05 %, which indicates US underperformance is not affected Asia and Europe.
3. SGX Nifty is indicating 93 points Down tick at 18100 which is a slight pull back to major support area. Bank Nifty will have a down tick of 300 points to 41400 Levels.
4. HDFC Bank is consolidating between 1480 -1500 Zone. ICICI bank is looking oversold.
5. Reliance is showing good strength.
6. Nifty has highest OI at 18100 and 18000 Levels and Bank Nifty has Good sp at 41500 levels.
Verdict.
1. Nifty and Bank Nifty is showing good strength.
2. Today is expiry and maybe volatile.
3. I will wait foR nifty to consolidate after the morning dip and look to buy for a tgt of 18200. Bank Nifty is shall buy around 41500 levels tgt 41800.
THE VIEWS ARE PERSONAL. I AM NOT A SEBI REGISTERED TRADER. PLEASE USE IT TO ENHANCE YOUR DECISION MAKING.
1. US has Pulled back by 1.5 -2 %, which is not good .
2. However Europe and Asia are down by Just 05 %, which indicates US underperformance is not affected Asia and Europe.
3. SGX Nifty is indicating 93 points Down tick at 18100 which is a slight pull back to major support area. Bank Nifty will have a down tick of 300 points to 41400 Levels.
4. HDFC Bank is consolidating between 1480 -1500 Zone. ICICI bank is looking oversold.
5. Reliance is showing good strength.
6. Nifty has highest OI at 18100 and 18000 Levels and Bank Nifty has Good sp at 41500 levels.
Verdict.
1. Nifty and Bank Nifty is showing good strength.
2. Today is expiry and maybe volatile.
3. I will wait foR nifty to consolidate after the morning dip and look to buy for a tgt of 18200. Bank Nifty is shall buy around 41500 levels tgt 41800.
THE VIEWS ARE PERSONAL. I AM NOT A SEBI REGISTERED TRADER. PLEASE USE IT TO ENHANCE YOUR DECISION MAKING.
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