Nifty and BankNifty Outlook and post market analysis for Nov 9th
Nifty opened slightly gap up, couldn't find buyers at higher levels sold out towards 20DMA levels and post Europe open made day's high and sold off to close around opening levels. Nifty was bit volatile and indecisive formed a Doji candle pattern today. Closing above 20DMA for past 3 sessions is positive.
BankNifty opened below Previous day's High and was weak all over the trading day. Closed below previous day close and high. Closed at pivot levels and didn't see major sell off despite being weak from opening.
Nifty Futures saw negligible addition in Open Interest where as BankNifty Futures saw negative Open Interest with negative price action, which accounts for short buildup.
Nifty closed at 20DMA for 2nd consecutive day and Bank Nifty closed above 20DMA for 3rd day.
BankNifty opened below Previous day's High and was weak all over the trading day. Closed below previous day close and high. Closed at pivot levels and didn't see major sell off despite being weak from opening.
Nifty Futures saw negligible addition in Open Interest where as BankNifty Futures saw negative Open Interest with negative price action, which accounts for short buildup.
Nifty closed at 20DMA for 2nd consecutive day and Bank Nifty closed above 20DMA for 3rd day.
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