BANKNIFTY November 12, 2023- Special Trading Session
Bulls will continue their triumph in the short-mid term?
In Friday's session we saw gap down as predicted and formation of triangle and flag patterns followed by breakouts. I hope you all had good profits. Personally I liked the chart and it was remarkable.
BANKNIFTY
Prediction for Nov 12 Muhurat Trading Day
Bank Nifty is likely to open gap up on Nov 12 Muhurat trading day. This is because the index has closed at its day's high on Nov 11, and the global market sentiments are also positive.
The key levels to watch on Nov 12 are:
Support: 43600, 43400
Resistance: 44200, 44400
If Bank Nifty opens gap up above 44200, it is likely to continue its upward momentum and test the 44400 level. However, if it opens below 43600, it is likely to face some selling pressure and may fall to the 43400 level. I have plotted interim support and resistance levels for scalpers and day traders.
Global Market Sentiments
Global market sentiments are positive on Nov 12. Asian markets are trading higher, and US stock futures are also pointing to a higher open. This is likely to support the Bank Nifty bulls and lead to a gap up opening.
I am bullish on Bank Nifty in the short and medium term. I believe that the index is likely to continue its upward trajectory on Nov 12 Muhurat trading day. However, traders should be cautious and use stop-loss orders to protect their capital.
In Friday's session we saw gap down as predicted and formation of triangle and flag patterns followed by breakouts. I hope you all had good profits. Personally I liked the chart and it was remarkable.
BANKNIFTY
Prediction for Nov 12 Muhurat Trading Day Bank Nifty is likely to open gap up on Nov 12 Muhurat trading day. This is because the index has closed at its day's high on Nov 11, and the global market sentiments are also positive.
The key levels to watch on Nov 12 are:
Support: 43600, 43400
Resistance: 44200, 44400
If Bank Nifty opens gap up above 44200, it is likely to continue its upward momentum and test the 44400 level. However, if it opens below 43600, it is likely to face some selling pressure and may fall to the 43400 level. I have plotted interim support and resistance levels for scalpers and day traders.
Global Market Sentiments
Global market sentiments are positive on Nov 12. Asian markets are trading higher, and US stock futures are also pointing to a higher open. This is likely to support the Bank Nifty bulls and lead to a gap up opening.
I am bullish on Bank Nifty in the short and medium term. I believe that the index is likely to continue its upward trajectory on Nov 12 Muhurat trading day. However, traders should be cautious and use stop-loss orders to protect their capital.