BANKNIFTY Pre-market Analysis November 13, 2023
Bullish Diwali for NSE:BANKNIFTY!
What happened during Muharat Trading session on November 12, 2023?
Bank Nifty started as a gap-up as predicted and closed at 43,996 on November 12, 2023. The index opened higher at 44,050 and traded in a range of 43,920-44042 throughout the session. The index closed above its key resistance level, which is a positive sign for the bulls.
Based on the performance of Bank Nifty in the Muharat trading session and the positive global and domestic factors, I am bullish on the index in the short term. I expect Bank Nifty to open on a positive note on November 13, 2023, and trade above the range of 44100.
The index has formed a premature bullish flag pattern in 5 minute frame and a hammer in day frame which further support the bullish trend.
Note: This is a pre-market analysis, can be wrong or right. Take your trades responsibly.
What happened during Muharat Trading session on November 12, 2023?
Bank Nifty started as a gap-up as predicted and closed at 43,996 on November 12, 2023. The index opened higher at 44,050 and traded in a range of 43,920-44042 throughout the session. The index closed above its key resistance level, which is a positive sign for the bulls.
Based on the performance of Bank Nifty in the Muharat trading session and the positive global and domestic factors, I am bullish on the index in the short term. I expect Bank Nifty to open on a positive note on November 13, 2023, and trade above the range of 44100.
The index has formed a premature bullish flag pattern in 5 minute frame and a hammer in day frame which further support the bullish trend.
Note: This is a pre-market analysis, can be wrong or right. Take your trades responsibly.
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