BANKNIFTY Price Action Views for 20-Nov-23
Bearish View Reason :
1. After the break out from bottom the price has reversed from the Trendline & almost making a Double Top.
2. Price is trading below 50 EMA and above 100 EMA which suggest consolidation.
3. But we have also seen the sharp Down Move in the recent past and now again Sharp Down Move.
OPTION CHAIN - PCR >>
Nifty 0.87 (Neutral),
Bank Nifty 0.60 (Bearish),
Fin Nifty 0.80 (Neutral)
Important Point to note : FII's Holdings in Pvt Banks is above 40% which indicates oversubscription and the risk of FII'S selling and highly Volatile.
1. After the break out from bottom the price has reversed from the Trendline & almost making a Double Top.
2. Price is trading below 50 EMA and above 100 EMA which suggest consolidation.
3. But we have also seen the sharp Down Move in the recent past and now again Sharp Down Move.
OPTION CHAIN - PCR >>
Nifty 0.87 (Neutral),
Bank Nifty 0.60 (Bearish),
Fin Nifty 0.80 (Neutral)
Important Point to note : FII's Holdings in Pvt Banks is above 40% which indicates oversubscription and the risk of FII'S selling and highly Volatile.
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