NIFTY AND BANK NIFTY ANALYSIS FOR 19 DEC 2022.
18 DEC 2022 2000 HRS
1. US, Europe and Asia are looking bearish.
2. SGX Nifty is neutral indicating 1.5 pts down tick.
3. HDFC Bank has bounced back from crucial sp level of 1609.ICICI Bank is looking bearish. Any break of previous day low may take ICICI further down.
4. SBIN and Kotak is also looking bearish.
5. Reliance is near its 200 SMA in daily time frame which may act as good support.
6. 18600 - 18400 has has added good call OI indicating resistance. while 18300 has support.
7. Bank Nifty has good call OI build up at 43500 - 43300 and highest put OI is at 43000.
Analysis
1. I remain more bearish on Bank Nifty than Nifty because Reliance is at crucial 200 SMA sp level.
2. Any move of bank nifty to 43400 - 43500 levels can be sold into if HDFC bk and ICICI Bk show weakness.
3. I remain neutral to bullish on Nifty till Reliance breaks decisively 200 SMA and HDFC Bank Decisively breaks 1609 levels.
1. US, Europe and Asia are looking bearish.
2. SGX Nifty is neutral indicating 1.5 pts down tick.
3. HDFC Bank has bounced back from crucial sp level of 1609.ICICI Bank is looking bearish. Any break of previous day low may take ICICI further down.
4. SBIN and Kotak is also looking bearish.
5. Reliance is near its 200 SMA in daily time frame which may act as good support.
6. 18600 - 18400 has has added good call OI indicating resistance. while 18300 has support.
7. Bank Nifty has good call OI build up at 43500 - 43300 and highest put OI is at 43000.
Analysis
1. I remain more bearish on Bank Nifty than Nifty because Reliance is at crucial 200 SMA sp level.
2. Any move of bank nifty to 43400 - 43500 levels can be sold into if HDFC bk and ICICI Bk show weakness.
3. I remain neutral to bullish on Nifty till Reliance breaks decisively 200 SMA and HDFC Bank Decisively breaks 1609 levels.
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