Banknifty Future chart analysis for 16.11.2023
if price burst upside and goes above 44486, then it may reach 44604,
44604 is strong resistance price may go down to the level of 44429,
but if crosses above 44604 then it may reach to final target.
As you can see here , that price closed taking support at median line , this
situation indicates another sideways, but here situation is little different . as
you can see short squeeze in bollinger bands , so tomorrow it may burst.
if price burst downside and goes below 44315, then it may reach 44219,
44219 is strong support price may bounce back to the level of 44219,
but if crosses below 44219 then it may reach to final target.
44604 is strong resistance price may go down to the level of 44429,
but if crosses above 44604 then it may reach to final target.
As you can see here , that price closed taking support at median line , this
situation indicates another sideways, but here situation is little different . as
you can see short squeeze in bollinger bands , so tomorrow it may burst.
if price burst downside and goes below 44315, then it may reach 44219,
44219 is strong support price may bounce back to the level of 44219,
but if crosses below 44219 then it may reach to final target.