BankNIFTY prediction for tomorrow

3 de dez. de 2023

as we have already discussed Banknifty has given breakout. and yesterday it retested the 44300 level and again bulls pumped the bulls side. Now I am expecting it to move bullish whole this week. Target 1 will be 45561, then some consolidation and it will move to all time high 46250.
Reasons:

• Price has already broken out 2 month breakout with Inverted HNS. (Bullish)
  
• RSI showing bullish diversion. (Bullish)
  
• Bullish Golden crossover successful. (Bullish)
  
• Inverted HNS breakout and successful retesting of neck-line. (Bullish)
  
• According to OI, PCR: 0.97 (Bullish) with max pain = 44800 or 45000.
  
• above side only 45000 is having significiant resistance, if it's taken out bulls path will be clear for target 1 (45561)
  

Verdict:
Bullish

Plan of action:
Keep holding the previous position. you can add move call buy once bull intraday trend confirms.