Nifty Bank Analysis - Positive Outlook in November 2020

Market will show high-level tension in the first and second week of November due to various reasons like US Elections and Re-Lockdown in other countries but still, we have to analyze the trend of the market. 

If we talk about Nifty Bank then as per analysis it is ready to cross 25000 levels in November month. Last closing of Nifty Bank 23900 and US Election Tension Ahead. But still, there is a strong probability it will not break the final support level of 23000 (given on the above chart) no matters how's the panic condition occurs in the coming days. If the Final Support level breaks then it will be difficult for the banking sector as well as the Stock Market community. 

Banking Index may outperform in November Month even we know there will be a high volatility level as compared to last month.

Happy Investing and Keep Learning!!

 

Disclaimer: This Chart Study is based on the theory of technical analysis and personal observations. This does not claim for Profit & Loss. We are not responsible for any profit or losses made by traders and investors. It is only the outlook of the market with reference to its previous performance. 
All information is a point of view and is for educational and informational use only. All viewers are advised to take your position with your sense and judgment.

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