Indeks Nifty 50Penjualan
Nifty 50 and BankNifty Prediction: 04 November 2024
Happy Diwali friends...
On the occasion of Diwali the Indian Stock market was opened for 1 hour as a mahurat trade on 1 November. On Friday the market was traded on very low volume. So we can the Friday market values.
But still, Nifty 50 forms the harami cross candle which indicates a weak signal of the market and it breaks the lower circuit of the channel a few days back and moves to and fro near lower by that. But the OI number shows that on all round figure levels above 23300 has high resistance. The overall PCR is 0.83 and the nearby ATM is 0.77 which shows a weak sign. FII, Pro, and Client data show the market should be bearish.
BankNifty forming a bullish harami green candle which shows a positive sign for the market. The OI chart of BankNifty shows high resistance at 52000 and 52500. The overall PCR is 0.65 and nearby ATM is 0.59. The FII made a strong bearish position on Thursday and the Client forms a Strong bullish position. Pro data is Indecisive. Let's wait for Monday's market if it goes up and breaks Thursday's high and only the possibility of bullish has taken control over the market.
Conclusion and Trade Plan: If Banknifty opens and goes up in the morning before 10 AM and touches 52000 plan for a bearish position. But before making any trade make sure and check the open Interest and take confirmation before trade. Tomorrow is BankEx expiry and BankEx also shows little bullish in starting morning and then bearish.
On the occasion of Diwali the Indian Stock market was opened for 1 hour as a mahurat trade on 1 November. On Friday the market was traded on very low volume. So we can the Friday market values.
But still, Nifty 50 forms the harami cross candle which indicates a weak signal of the market and it breaks the lower circuit of the channel a few days back and moves to and fro near lower by that. But the OI number shows that on all round figure levels above 23300 has high resistance. The overall PCR is 0.83 and the nearby ATM is 0.77 which shows a weak sign. FII, Pro, and Client data show the market should be bearish.
BankNifty forming a bullish harami green candle which shows a positive sign for the market. The OI chart of BankNifty shows high resistance at 52000 and 52500. The overall PCR is 0.65 and nearby ATM is 0.59. The FII made a strong bearish position on Thursday and the Client forms a Strong bullish position. Pro data is Indecisive. Let's wait for Monday's market if it goes up and breaks Thursday's high and only the possibility of bullish has taken control over the market.
Conclusion and Trade Plan: If Banknifty opens and goes up in the morning before 10 AM and touches 52000 plan for a bearish position. But before making any trade make sure and check the open Interest and take confirmation before trade. Tomorrow is BankEx expiry and BankEx also shows little bullish in starting morning and then bearish.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.