Banknifty daily analysis for 17/11/22
Banknifty again remained in a consolidation phase and touched 42600 levels.
The market in the initial hour gave a movement and consolidated whole day.
On 15 minute time frame, the market has tested its 20 ema and closed near the levels.
The market were volatile. Even on the RSI indicator there is a divergence and a retest is also pending for another up move.
Support :- 42440, 42340, 42230
Resistance :- 42600
Wait for the price action near the price level before entering the market.
The market in the initial hour gave a movement and consolidated whole day.
On 15 minute time frame, the market has tested its 20 ema and closed near the levels.
The market were volatile. Even on the RSI indicator there is a divergence and a retest is also pending for another up move.
Support :- 42440, 42340, 42230
Resistance :- 42600
Wait for the price action near the price level before entering the market.
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