BankNIFTY prediction for tomorrow 28th Nov

27 nov 2023

BankNIFTY has been in the range of 43300-43700. the above resistance level has been struck out multiple times; there are more chances it will break this time to the upside. Looking at the charts and OI data, all data shows bullishness in the

BANKNIFTY.

Reasons:

1. Multiple times (5) resistance zone strike. make it more chances to break this time. Usually, there is a high probability after three attempts. (Bullish)
   
2. Price > EMA(13,50,200) (Bullish)
   
3. Bullish Crossover successful. (Bullish)
   
4. 200 EMA Support downside. (Bullish)
   
5. RSI > 60 crossing to upside.(Bullish)
   
6. PCR: 1.03 (Bullish)
   

Verdict:
Bullish

Plan of action:
Sell 43800 CE once break to upside. after retest add CE buying.