Nifty and banknifty yesterday recovered 200 points after coming down 200 points till 18200, 43000.
Nifty is trading above 45EMA And 45 Supertrend And Yesterday candle is giving indication of bullishness.
As stated in yesterday post https://www.news009.in/2022/12/nifty-banknifty-20th-december-analysis.html
16th high and low are very important, Yesterday looks like it closed below low but recovered in end. This is telling bullishness in market and In last same like situations, Market bounced for upside.
So if not closing below low, we can expect upside slowly.
Banknifty also not closed below and any closing below 16th low we can expect downside. and trend will continue till 29th after breakout in same direction.
Disclaimer - Only for education purpose, contact your advisor. Any Query - Contact Prakash - 8050797018, telegram - Stock market trading training
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