Banknifty daily analysis for 04/01/23
Banknifty on the daily time frame has closed near the 20 ema and took support around 42850.
On the hourly time frame, the markets are looking in a bearish mode.
The market can consolidate in the first half and give a nice movement in the second half due to weekly expiry.
The market on the hourly time frame, has closed near the 200 ema and took resistance from 20 ema.
Support :- 42800, 42500
Resistance :- 43200, 43500
The market have closed giving only dojis in the closing hour.
Wait for the price action near the levels before entering the market.
On the hourly time frame, the markets are looking in a bearish mode.
The market can consolidate in the first half and give a nice movement in the second half due to weekly expiry.
The market on the hourly time frame, has closed near the 200 ema and took resistance from 20 ema.
Support :- 42800, 42500
Resistance :- 43200, 43500
The market have closed giving only dojis in the closing hour.
Wait for the price action near the levels before entering the market.
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