Banknifty daily analysis for 21/12/22
Banknifty on the daily time frame has tested the 20 ema and hasn't closed below it.
There is a dragon fly doji on daily time frame and 55 points lower.
On the hourly time frame, the market tested 43000 level and in the closing hour of the session gave a nice bullish candle closing above both the moving averages.
The market, on the 15 minute time frame, has closed near the resistance zone and 200 ema.
If the banking index breaks out of 43440 levels, intraday bullish side trades can be taken.
Support :- 43160, 42950
Resistance :- 43440, 43750
Wait for the price action near the levels before entering the market.
There is a dragon fly doji on daily time frame and 55 points lower.
On the hourly time frame, the market tested 43000 level and in the closing hour of the session gave a nice bullish candle closing above both the moving averages.
The market, on the 15 minute time frame, has closed near the resistance zone and 200 ema.
If the banking index breaks out of 43440 levels, intraday bullish side trades can be taken.
Support :- 43160, 42950
Resistance :- 43440, 43750
Wait for the price action near the levels before entering the market.
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