Nifty Technicals November 21st

BANK NIFTY

We had posted on Friday about the strong movements that could come in to lift the mood and sentiment. LT and  SBIN both lifted the spirits with a huge rally. Technically the markets are oversold but we could see 4850 retested or consolidation or sideways movements for the next day or 2. We do turn fairly bullish for Wednesday and Thursday. We could see as much as 5066 tested as that is now the 50DMA

Bank Nifty  has now formed a Dragonfly Candlestick and and we may see some momentum starting now.

Buy at / above: 8859.51   Targets: 8878.62 - 8902.18 - 8925.78 - 8949.41 Stoploss : 8836
Sell at / below: 8836   Targets: 8816.92 - 8793.45 - 8770.02 - 8746.62 Stoploss : 8859.51

Nifty Futures
Buy at / above: 4917.51   Targets: 4932.59 - 4950.16 - 4967.76 - 4985.39
Stoploss : 4900
Sell at / below: 4900   Targets: 4884.95 - 4867.49 - 4850.06 - 4832.66
Stoploss : 4917.51