Morning Market Insight Report – 22 November 2021

Bank Nifty Intraday Outlook

 Pattern: Falling Downward channel formation
 Crucial Support Zones: 37500-37110-36875
 Crucial Resistance Zones: 38000-38280-38400
 Comments: Banking moves in lower high – lower low formation on daily chart, contributed by weakness in major private banks such as Axis bank, ICICI Bank, Bandhan bank, RBL Bank, and etc.

Nifty Intraday Outlook

 Pattern: Bearish Head and Shoulder formation (daily chart)
 Crucial Support Zones: 17650-17575-17500
 Crucial Resistance Zones: 17825-17910-17990
 Comments: The short term trend looks sideways to weak in Nifty benchmark index amid weaker global cues. Any attempt of upside bounce from here could find resistance around mentioned levels.

Pivot Levels

Daily market statistics

Daily market statistics

Disclaimer

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