Banknifty on a daily closing has formed a doji.
Banknifty looks weak than nifty and has tested its 0.618 fib level of recent swing.
Bank nifty traded in a narrow range.
On 15 minute time frame, there is a bearish moving average crossover and the market took a nice resistance from its 20ema.
Support:- 33210, 33000, 32950
Resistance:- 33450, 33520, 33700-50
The market can be trending as it has consolidated and tomorrow is monthly expiry.
Wait for the price action near the levels before entering the markets.
Banknifty looks weak than nifty and has tested its 0.618 fib level of recent swing.
Bank nifty traded in a narrow range.
On 15 minute time frame, there is a bearish moving average crossover and the market took a nice resistance from its 20ema.
Support:- 33210, 33000, 32950
Resistance:- 33450, 33520, 33700-50
The market can be trending as it has consolidated and tomorrow is monthly expiry.
Wait for the price action near the levels before entering the markets.
