Nifty Bank Index
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Bank Nifty and Nifty Analysis 16 Dec 2022

16 Dec 2022
1. US,Europe is down 2-3%. Asia is holding up.
2. SGX Nifty is indicating 51 point cut @18400. This amounts to 42300 Levels in Bank Nifty.
Market has turned bearish as discussed yesterday.3. HDFC twins and ICICI Bank is bearish.
4. IT along with banking stocks is dragging nifty.
5. Since today is the first day of 22 dec series, no point discussing OI.
6. VIX has shot up 6 %. we may see some volatility with good premium.
7. However position sizing should be kept in mind.
Analysis.
1. I remain bearish with sell on rally with Nifty tgt 18100.
2. I also remain neutral to bearish on bank nifty.

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