Nifty outlook 21 Nov 2023
Updated
Day range - 19569/19818, Extended ragne 1 - 19477/19910, Extended range 2 -19359/20028
Nity closed in red as expected with a Bearish harami candlestick pattern on daily chart. It worthy to note that a similar patter existsion a weekly chat also. That said, weekly chart indicates a strong support at 19600, Options data also indicate down side till 19590 for tomorrow. Expect a sideways to negative movement in the next session & no sudden dip especially then there were more calls change in last 1 hour over puts in the last session. Traders can go long at 19600 with a SL at 19550. Fibonacci support levels - 19624 & then at 19472.
Nity closed in red as expected with a Bearish harami candlestick pattern on daily chart. It worthy to note that a similar patter existsion a weekly chat also. That said, weekly chart indicates a strong support at 19600, Options data also indicate down side till 19590 for tomorrow. Expect a sideways to negative movement in the next session & no sudden dip especially then there were more calls change in last 1 hour over puts in the last session. Traders can go long at 19600 with a SL at 19550. Fibonacci support levels - 19624 & then at 19472.
Note
Over night global cues have come up very strong. Lets wait for a confimation candle to the Bearish Harami pattern discussed above today before taking major trade calls.Trade closed: target reached
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