End of Day Review & Analysis of Nifty BankNifty for Dec 13, 2023
Nifty opened at previous day’s close and started selling off from the opening to take support at 20770 S2 of daily pivot. Second half of season saw buying at lows to close at day’s high. Price action is positive and saw buy on dips forming a pin bar bullish candle. Nifty Futures open interest saw negligible addition with flat price.
BankNifty also saw selling from the opening to take support at S1 of pivot. BankNifty led the recovery from dips closing flat at previous day’s close. BankNifty open interest was also negligible with flat price.
Nifty & BankNifty both found support above 5DEMA.Markets were resilient to see buying at dips only IT sector saw major selling and in second half Banks supported.
US Markets were mildly in positive waiting for Fed Chairman’s speech.
BankNifty also saw selling from the opening to take support at S1 of pivot. BankNifty led the recovery from dips closing flat at previous day’s close. BankNifty open interest was also negligible with flat price.
Nifty & BankNifty both found support above 5DEMA.Markets were resilient to see buying at dips only IT sector saw major selling and in second half Banks supported.
US Markets were mildly in positive waiting for Fed Chairman’s speech.