Finally, banknifty has crossed 46k levels and has closed around it. Today the market was a bit volatile and remained sideways after an initial gap up opening.
It tested 46100 levels and reversed making base around 45850 levels and consolidated in a 150-200 point range in the second half of the session.
On the hourly charts, the market hasn't given a close above our resistance level and has closed above both the moving averages.
Watch for the markets and it would be good to trade only a perfect setup as there are chance of market going in a sideways to volatile mode.
On 15 minute charts, market consolidated and traded around the 20 ema and has closed just above it.
Support :- 45850, 45620
Resistance :- 45070, 45300
Banknifty is still close to the recent high but nifty has already crossed and given a close near it ATH.
Wait for the price action near the levels before entering the market.
It tested 46100 levels and reversed making base around 45850 levels and consolidated in a 150-200 point range in the second half of the session.
On the hourly charts, the market hasn't given a close above our resistance level and has closed above both the moving averages.
Watch for the markets and it would be good to trade only a perfect setup as there are chance of market going in a sideways to volatile mode.
On 15 minute charts, market consolidated and traded around the 20 ema and has closed just above it.
Support :- 45850, 45620
Resistance :- 45070, 45300
Banknifty is still close to the recent high but nifty has already crossed and given a close near it ATH.
Wait for the price action near the levels before entering the market.
