Banknifty view for 19/07/22
Banknifty on a daily time frame, has given a nice bullish marubozu candle and has closed above the resistance level of 35k.
There was a nice up move in the market. Even after the initial gap up there was positive sentiments in the market.
Banknifty has taken resistance from its 200DMA and has closed just below the moving average.
On 4 hour time frame, it has closed above its 200 ema and a bullish moving average crossover is there on 15 minute time frame.
Support:- 35300, 35000, 34800
Resistance :- 35500, 35780
The markets seems to be bullish and can remain in a bullish moment tomorrow.
Wait for the price action before entering the markets.
There was a nice up move in the market. Even after the initial gap up there was positive sentiments in the market.
Banknifty has taken resistance from its 200DMA and has closed just below the moving average.
On 4 hour time frame, it has closed above its 200 ema and a bullish moving average crossover is there on 15 minute time frame.
Support:- 35300, 35000, 34800
Resistance :- 35500, 35780
The markets seems to be bullish and can remain in a bullish moment tomorrow.
Wait for the price action before entering the markets.
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