End of Day Review & Analysis of Nifty BankNifty for Dec 19, 2023
Nifty opened flat around previous day’s close to trade in a small range through out the day and closed flat. Price action was kind of consolidation in a small range didn’t break previous day’s high forming a small doji candle signifying indecisiveness. Nifty Future open interest saw slight fall with flat price nothing much can be read into this. Saw Put addition around 21450-500 lots.
BankNifty also saw flat opening and milld selling but overall was in a small range. Price action was consolidation in a small range with mild weakness. Formed a bearish inside candle.
* Movement above Previous day’s can see more upmove
* Dips around previous day’s low can be bought for a up move
* Might consolidate for 2-3 sessions till 10/20 DMA will catch up with price.
US Futures was also flat looking for new triggers to movement.
BankNifty also saw flat opening and milld selling but overall was in a small range. Price action was consolidation in a small range with mild weakness. Formed a bearish inside candle.
* Movement above Previous day’s can see more upmove
* Dips around previous day’s low can be bought for a up move
* Might consolidate for 2-3 sessions till 10/20 DMA will catch up with price.
US Futures was also flat looking for new triggers to movement.
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