NIFTY AND BANK NIFTY ANALYSIS FOR 17 NOV 2022
17 NOV 2022 2200 HRS
1. Tomorrow is weekly expiry day.
2. US and Europe looks oversold. Kospi is facing resistance at 200 SMA and Nikkei is choppy and neutral.
3. Sgx Nifty is indicating 62 points downtick at 18413 spot. This is the crucial Pivot level and will be a good support.
4. Bank Nifty similarly will have a down tick of 180 points which will be below the key pivot level.
5. HDFC twins looks overbought while ICICI bank looks oversold.
6. Reliance is at key pivot level.
Verdict
1. 18500 and above looks strong resistance in Nifty.
2. Bank Nifty has strong sp at 42500 where huge put build up is there.
3. As tomorrow is expiry there will be huge volatility .
4. So i will be bearish to neutral on nifty and look to sell on rise.
5. Bank Nifty looks strong due to ICICI Bank being oversold.However PCR is at 1.4 which indicates overbought levels. So i avoid trading Bank nifty just for tomorrow.
I AM NOT A SEBI REGISTERED TRADER PLEASE USE THIS INFORMATION TO ENHANCE YOUR DECISION MAKING.
1. Tomorrow is weekly expiry day.
2. US and Europe looks oversold. Kospi is facing resistance at 200 SMA and Nikkei is choppy and neutral.
3. Sgx Nifty is indicating 62 points downtick at 18413 spot. This is the crucial Pivot level and will be a good support.
4. Bank Nifty similarly will have a down tick of 180 points which will be below the key pivot level.
5. HDFC twins looks overbought while ICICI bank looks oversold.
6. Reliance is at key pivot level.
Verdict
1. 18500 and above looks strong resistance in Nifty.
2. Bank Nifty has strong sp at 42500 where huge put build up is there.
3. As tomorrow is expiry there will be huge volatility .
4. So i will be bearish to neutral on nifty and look to sell on rise.
5. Bank Nifty looks strong due to ICICI Bank being oversold.However PCR is at 1.4 which indicates overbought levels. So i avoid trading Bank nifty just for tomorrow.
I AM NOT A SEBI REGISTERED TRADER PLEASE USE THIS INFORMATION TO ENHANCE YOUR DECISION MAKING.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.