Market Analysis Journal on Nifty BankNifty for Nov 29th 2023
Nifty opened gap up and retested previous day’s close and bounced in post noon session. Price Action was a clear breakout above 19855 levels forming a bullish candle above 5DEMA.
BankNifty also followed in similar lines and gave a breakout and retested previous day’s high in post noon session to close at high of the day. Price action is strong bullish with a bullish candle pattern decisive close above 5DEMA.
Nifty and Bank Nifty futures saw healthy addition in Open Interest with increase in price which is deemed as long addition.
FII’s and DII’s were net buyers.
US Markets opened positive and trading mildly on positive side. Crude was trading high around 2%.
BankNifty also followed in similar lines and gave a breakout and retested previous day’s high in post noon session to close at high of the day. Price action is strong bullish with a bullish candle pattern decisive close above 5DEMA.
Nifty and Bank Nifty futures saw healthy addition in Open Interest with increase in price which is deemed as long addition.
FII’s and DII’s were net buyers.
US Markets opened positive and trading mildly on positive side. Crude was trading high around 2%.