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Nifty and BankNifty for 23 Oct 2020

Nifty and BankNifty expired in a range and was a very volatile move.

Nifty RSI is 52 and MACD is Buy in 15 Mins Time Frame While in 1 Hr RSI is 50.3 and Sell Signal in MACD. The range is large.

Option chain suggests resistances are 11900 and 12000 and Good Support at 11800.

NIFTY for 23 Oct 2020
NIFTY for 23 Oct 2020

The Trendlines in Nifty Chart suggests that the range is too large for any breakout.

BANKNIFTY for 23 Oct 2020
BANKNIFTY for 23 Oct 2020

Bank Nifty option chain suggests good support at 24000 and resistances ar 24500 and 24600.

Today’s close will generate a weekly candle. The next expiry is monthly expiry, so I am expecting a long move on either side.