Nifty 50 IndexLong
NIFTY AND BANK NIFTY ANALYSIS
20 OCT 2022 2300 HRS
1. US and Europe are down by 0.5 % and consolidating. But they are in a secular downtrend.
2. SGX Nifty is indicating 107 pts down tick.
3. HDFC Twins, ICICI bank are bullish and above 200 SMA.
4. INFY and TCS are looking bearish and may not support nifty. Axis bank is making all time high.
5. India VIX is down to 17.34 levels Indicating low volatility.
Verdict
1. with Reliance, HDFC twins, axis banks looking strong, it is better to go for buy on dips in bank nifty and nifty.
2. But If 17400 is decisively broken then further down move towards 17300 can happen.
3. Bank Nifty has sp at 39955. If it holds 39955 we can move upwards. Any break of 39955 may show weakness for the bank nifty.
THE VIEWS ARE PERSONAL PLEASE USE THIS INFO TO ENHANCE YOUR DECISION MAKING.
1. US and Europe are down by 0.5 % and consolidating. But they are in a secular downtrend.
2. SGX Nifty is indicating 107 pts down tick.
3. HDFC Twins, ICICI bank are bullish and above 200 SMA.
4. INFY and TCS are looking bearish and may not support nifty. Axis bank is making all time high.
5. India VIX is down to 17.34 levels Indicating low volatility.
Verdict
1. with Reliance, HDFC twins, axis banks looking strong, it is better to go for buy on dips in bank nifty and nifty.
2. But If 17400 is decisively broken then further down move towards 17300 can happen.
3. Bank Nifty has sp at 39955. If it holds 39955 we can move upwards. Any break of 39955 may show weakness for the bank nifty.
THE VIEWS ARE PERSONAL PLEASE USE THIS INFO TO ENHANCE YOUR DECISION MAKING.
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