Nifty and BankNifty Outlook and post market analysis for Nov 8th
Nifty and Bank Nifty opened around Previous Day Close and saw selling towards Pivot levels in first half of the session. Later took support around S1 levels and bounced back after Europe opening towards Opening levels finally closing around day’s high.
Open Interest of both Nifty and Bank Nifty were mildly positive indicating long were added at lows.
Candle pattern on daily charts were positive forming a big lower wick and close around highs.
Nifty closed at 20DMA for 2nd consecutive day and Bank Nifty closed above 20DMA for 2nd day.
Trend, Chart Pattern and Technical looks Positive can test Higher levels in coming Trading sessions.
Open Interest of both Nifty and Bank Nifty were mildly positive indicating long were added at lows.
Candle pattern on daily charts were positive forming a big lower wick and close around highs.
Nifty closed at 20DMA for 2nd consecutive day and Bank Nifty closed above 20DMA for 2nd day.
Trend, Chart Pattern and Technical looks Positive can test Higher levels in coming Trading sessions.
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