BankNifty Trend Analysis for the Day

Through this article, we will undertake the bank nifty trend analysis to help you make money in Indian stock market. The last couple of percentage moves in stocks and Indices are the toughest. It invites you to participate but the trend is at the top and can reverse at any time. Such reversals are risky and can make a decent dent in the capital. 

Despite a rising cost of living and sagging consumer sentiment, Black Friday online sales shattered records. Again. Black Friday $9.12 billion in online sales which means USA markets will be in a jubilant mode and Indian markets will strike new highs riding on the success of Black Friday sales.

Reliance will be used to propel Nifty to higher levels and this is what is called index management by bigger hands. In a normal market, if crude is going down, Reliance goes down and now Reliance is bucking the trend despite the crude going down and thus we firmly believe and affirm that Reliance is the stock that is being manipulated to take Nifty to new heights. 

At times, even when the company fundamentals are strong but their share price remain very low?

Because, stock markets don’t always behave in a rational manner. Thus, we find many very good stocks priced way too low and few not so good stocks but priced too high. There may or may not be an exact explanations for this happening to individual stocks. In fact, this is what makes the stock markets so unpredictable.

For markets, specifically in the short term: Share price is not directly related to its Quality and is more dependent on the sentiment/ demand & supply.

After the breakout move, we expect the markets to be in a range for the day. The moves are highly stock-specific and that should be the norm today also. The overall trend remains bullish.

Nifty. Intraday supports are placed at 18430 and 18350 with resistance at 18600. Above it is a free move.

BankNifty. Rotation among sectors is playing wonderfully well. Bank Nifty was resting yesterday and may also rest today also but supports are placed at 42800 and resistance at 43300.

Expect a range day and make use of our banknifty trend analysis on a daily basis.

BankNIfty Trend

BankNifty Spot View For: 29/11/2022
Cmp: 43020.25
Support & Downside Range: 42882—42710--42550
Resistance & Upside Range: 43165--43340—43485—43500 zone
Short-Term Trend Reversal Level: -- 41000
Trading View: Intraday bias remains bullish till the bank index trading above 42882 and in such case, the move gets extended upside towards 43340 and max 43485—43500 zone, whereas the downside if the bank index breaks and sustain below 42882 spots and in such case, we may fall minimum downside 42710 and max 42550 spot levels.

Nifty Spot View: 29/11/2022
Cmp: 18562.75
Support & Downside Range: 18500—18430--18374
Resistance & Upside Range: 18560—18606--18737
Short-Term Trend Reversal Level: -- 18129
Trading View: Intraday bias remains strong and bullish till nifty is trading above 18500 spot levels and in such case, the move gets extended upside towards 18615—18680 minimum and max 18737 spot levels whereas if we slip and break 18500 then the move gets sideways way to range bound and in such case nifty can fall downside to minimum 18430 and max 18374 spot levels, break below 18500 calls & put writers will try to weaken the premium of calls today.

Banknifty live update : if 43000 call and put writers are serious to eat the premium of 43000 call and put of 1st Dec than they may try to give worst case close around 43100 today and good case close at or below 43000 spot cmp 43200.

Banknifty trend analysis end of the day update and we can see that 43000 call & put writers views shared in the morning and told if they are active then they will give today's worst case close around 43100 and good case close at or below 43000 spot that time bank nifty spot was 43200 and now last 6 mins trading at 43024 optionswriters are at its best again 43000 combined 574 premium now trading at 342

IPO Update

Dharmaj Crop Guard: The issue was subscribed 1.79 times on its opening day. The QIB portion was subscribed 35%, whereas the HNI basket received bids for 1.8 times its size. The retail portion was subscribed 2.6 times, and employees placed bids for 1.77 times the portion reserved for them.

Make use of our daily bank nifty trend analysis page and be a part of the team that makes daily profit.