Nifty tomorrow,bank nifty 25 February 2020, will nifty recover

                      
                           WILL NIFTY BANK NIFTY RECOVER TOMORROW ?
                 
           NIFTY BANK NIFTY ON TOMORROW TUESDAY  ON DATE 25 FEBRUARY 2020 AND ALL DATA OF 24 FEBRUARY 2020

NIFTY 50 TODAY 24 FEBRUARY 2020

         Nifty:Benchmark started with gap down as given breakdown to the bull rally today,nifty opened at 12012.55 and today open is high for nifty and made low 11813.40 closed near days low on 11829.40 that means strong bearish candle formed by nifty on 24 February 2020 which indicates some weakness in Indian stock market.benchmark drifted down side by metal pack, motor & bank nifty also drive nifty to the down side today.In metal pack JSW Steel, Vedanta, Tata Steel, Hindalco made pressure on nifty specially JSW steel is closed about 8 percent negative today.HDFC,Reliance ICICI,ITC only  these 4 stock drifted nifty by about 100 point.


                                                                       NIFTY BANK

BANK NIFTY TODAY

 

              Bank nifty today closed on negative by 487.75 points on 30455.10, maximum pain by icici bank to the bank nifty today and broken three days candle formation higher high and higher lows also made bearish red candle today,question remains still will it continue bear trend or nifty,bank nifty will recover ?


Technical data for Monday on date 25 February 2020.


2.Option chain data 

i.Option chain data (Nifty 50)

1	Highest open interest call strike price	12000
2	Highest open interest put strike price	11800

ii.Option chain data (Nifty Bank)

1	Highest open interest call strike price	30500
2	Highest open interest put strike price	30000

 2.Support and Resistance (as per pivot)

 i.Nifty 50

PIVOT POINT		11885.12
SUPPORT 1	11757.6	RESISTANCE 1	11956.8
SUPPORT 2	11685.9	RESISTANCE 2	12084.2
SUPPORT 3	11558.5	RESISTANCE 3	12155.9

 

 ii.Nifty Bank

PIVOT POINT		30528.42
SUPPORT 1	30354.4	RESISTANCE 1	30628.8
SUPPORT 2	30254.2	RESISTANCE 2	30802.5
SUPPORT 3	30080.5	RESISTANCE 3	30902.9

3.Technical indicators


 i.Nifty

1	RSI	40.33	Sell
2	MACD	-30.78	Sell
3	ADX	16.45	Neutral
4	STOCH	90.486	Oversold

 ii.Nifty Bank

1	RSI	42.316	Sell
2	MACD	-190.41	Sell
3	ADX	18.065	Neutral
4	STOCH	95.715	Overbought

4.Candlestick Pattern

i.Nifty:  Strong bearish red candle
ii.Nifty Bank: Bearish candle
                 
    For more detail about candlestick of all important stock please visit CANDLESTICK PATTERN 24.02.2020 & for support and resistance please visit S&R FNO STOCK.




 

Disclaimer: This post not suggesting any tips/recommendation for any stock/index/script
  to buy or sell just posting as per technical data as per technical indicator
 suggesting,for study purpose only.