BankNIFTY Sideways prediction for 21 Nov 23
BankNIFTY seems to be going sideways in the range of 43400 - 43800 as levels have been marked on the chart.
for past few days BANKNIFTY have been sideways mostly perfect DOJI. level 43400 will be providing a nice support and 43800 will be acting as resistance unless it's broken to the upside.
Reasons:
Verdict:
SIdeways range 43400-43800.
Plan of action:
IRON Condor range 43400-43800.
for past few days BANKNIFTY have been sideways mostly perfect DOJI. level 43400 will be providing a nice support and 43800 will be acting as resistance unless it's broken to the upside.
Reasons:
- Expiry is mostly sideways also PCR = 0.65 (Bearish)
- 200 EMA resistance to upside. (Bearish)
- RSI 40-60 mostly Sideways. (sideways)
- Price < 200 EMA (Bearish)
- Very nice price action support (4H-tf) downside. (Bullish level)
- 43500 has huge PE Calling. (Bullish)
Verdict:
SIdeways range 43400-43800.
Plan of action:
IRON Condor range 43400-43800.
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