Banknifty is behaving strongly as compared to Nifty. On Friday, it opened with a gap and finished as a base-like green candle. In the latter part of the day when markets started unwinding, Nifty did break its day’s low made in first 15 mins but BNF didn’t fall that much and closed above opening price. However two things bother me if we see BNF. One, high made on Friday (31,165) was lower than highs made on 11th November (31,205) and 13th November (31,198). And second, BNF too, like Nifty, had a long upper shadow signalling that there is too much selling pressure at the top. I have marked buying and Selling areas on 15 min chart too. A detailed video under name Market Movers India is also posted on Youtube with similar content.
All the best. Happy trading.
All the best. Happy trading.