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BankNifty Breakout prediction for today 29 Nov 23

Oleh finnova_
As we discussed yesterday, Banknifty moved to upside and took a retrace and again continue the bullish momentum. By looking the chart and OI data Banknifty is highly likely to move in the up direction.
Reasons:
  1. BANKNIFTY break the range by making inverted HNS pattern. (Bullish)
  2. RSI has broken to upside and retraced. (Bullish)
  3. Price > EMAs (Bullish)
  4. EMAs golden crossover. (Bullish)
  5. PCR = 1.12 (Bullish)


Verdict:
Bullish

Plan of action:
Sell 43900 PE and Buy 44000 CE
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