BANKNIFTY for 2nd December

30 Nov 2019

Banknifty looked much stronger than Nifty on Friday too. It did not break its previous lows easily and recovered lot in second half. On daily chart, it made a hammer like candle with lower high, lower low and lower closing price than yesterday’s candle. The effect of GDP figures will be felt on Banknifty too but again, since it is on much stronger footing, the fall not be much as compared to Nifty. I have talked in great detail about these figures in the video posted on youtube under channel Market Movers India, so please check that. There are no new levels on 15 minute chart but and old level, marked on chart, can stop BNF from falling further down.
All the best. Happy trading.

1 Dis 2019

Nota

JUST IN: TheGST collection for November stood at 1.03 lakh crores. This figure came as surprise since figures for September and October were around 91.92k Crs and 95.38 K crs. So a figure above 1lakh Crs is definitelya positive surprise. That GDP figure of 4.5 is alredy factored in our markets but this figure was not factored in and I think this may give a positive push to markets.