Market analysis 05-DEC-2023

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Market analysis 
Trend: uptrend Nifty & Bank nifty
Previous day candle : hammer  in Nifty big body green candle in bank nifty 

(Bank nifty moved yesterday above 1000points if anyone enter otm call option trade yesterday you will be millionaire)
What's reason behind this rally?
Bjp poll win adding zing to markets

News headlines
Cyclone Michaung pounds 
Chennai; rains claim five lives

Banks write off ₹10.6­lakh cr in 5 years; 50% linked to large firms

Nifty support
20600,20500,20451,20400,20347

Nifty resistance
20704,20754,20806,20857,20890

BANK nifty support
46065,45603,45340,45237,44973

Bank nifty Resistance 
46800,46900,47117,47500,47904
 
Finnifty expiry today 

Above all moving average 
Nifty & Bank nifty all time high
4 trillon valuation now in  sight for booming stock market 

Global market outlook
US Markets Negative
EUROPE  markets negative (Germany postive)
Asian markets negative
Gift nifty negative

We can expect flat & gap down opening 
Don't blindly follow me do your own analysis 
Have a good day
Thanks you








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