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Bankniftyanalysis

BankNifty should retrace into this Weekly Demand Whenever the Price deviates up from the Moving Average, Price either falls to the EMA or the EMA moves up top the Price, We here see a Fresh Weekly Demand formed which has exceeded the opposite Supply hence a Valid Demand. Price has formed a Daily Supply which has exceeded its opposite Demand hence a Valid Source for a Downtrend, This is the Supply to Demand Equilibrium Curve, showing the odds of long and short positions. One can short after a downward confirmation in 30 mins/1H
NSE:BANKNIFTYShort
by WavesandZones
BankNIFTY prediction for tomorrow 13 Dec 23As we discussed yesterday, Banknifty gave a breakdown and also moved nicely. OI PCR has shifted from 1.17 to 0.80, which indicates huge bearishness. After the breakout, we observed that volume increased significantly at each candle. If we see a 1-day timeframe, we can see it's a confirmed gravestone dogi pattern, which is formed at the top of the trend and shows huge bearishness. We could not achieve our bearish target today; hopefully, it will be achieved tomorrow. Reasons: RSI < 40 (Bearish) successful breakout to the downside. (Bearish) continuous increasing of volume after the breakout. (Bearish) PCR: 1.17 -> 0.80, which is a huge fall. Most of the PE writing was rounded off in 1st half day today. Price < EMA(13,50) (Bearish) Bearish golden crossover. (Bearish) Verdict: Bearish Plan of action: Sell 47200 PE, protect it with hedging.
NSE:BANKNIFTYShort
by finnova_
2