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Back to Home Market Technicals Charts for 7th December, 2023 Expiry

Charts for 7th December, 2023 Expiry

#safebull , Information , Market

Pixarts Trade December 1, 2023 09:01 PM

NIFTY 50

Fig. NIFTY OI Chart
7th December
Fig. Nifty Weekly Chart
7th December
Fig. Price Patterns for NIFTY 50
7th December
Fig. Bollinger Band
7th December
Fig. Moving Average

View :

At a new all time high, and highest ever close. Reclaimed 20,000 level once again. Very positive.

Price action on daily time frame looks positive avoid shorting at all cost.

At an unknown horizon, volatility is expected to remain.

Important Levels

  • Resistance – 20,400 -20,500
  • Support – 20,000 – 20,200
  • No trading Zone – 20,000 – 20,200

BANKNIFTY

Fig. Banknifty OI Chart
Fig. Banknifty Weekly Chart
Fig. Banknifty Bollinger Band
Fig. Moving Average

View :

Price action is settling strongly at a very bullish zone. Closed above 44,600 and it is expected for further up move.

On daily time frame, there has been a strong buying after a dip.

On a shorter time BANKNIFTY is a buy on dip.

Important Levels

  • Resistance – 45,000 – 45,200
  • Support – 44,400 – 44,500
  • No trading 44,400 – 44,500

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