End of Day Review & Analysis of Nifty BankNifty for Dec 15, 2023
Nifty opened gap up following Fed decision and kept on adding to the opening gains to close at day’s high. Price Action was clear strong uptrend and buying forming a strong bullish candle. Nifty Futures added a huge open interest with increase in price.
BankNifty also opened gap up and saw huge buying till end of session. However BankNifty saw selling at high point closed 200 points below high of the day. Price action and candle pattern were both bullish. BankNifty futures saw mild decrease in open interest with increase in price.
After a strong performance previous day, US Futures were again in positive territory signalling one more strong up move day. After clarity about rate cuts from Fed world over most of the commidities saw positive up move. Hope this is start of the Santa Rally which happens at end of every year if markets are positive and strong.
BankNifty also opened gap up and saw huge buying till end of session. However BankNifty saw selling at high point closed 200 points below high of the day. Price action and candle pattern were both bullish. BankNifty futures saw mild decrease in open interest with increase in price.
After a strong performance previous day, US Futures were again in positive territory signalling one more strong up move day. After clarity about rate cuts from Fed world over most of the commidities saw positive up move. Hope this is start of the Santa Rally which happens at end of every year if markets are positive and strong.