Banknifty daily analysis for 23/11/22

Banknifty on the daily time frame has formed a dragonfly doji and has closed gaining only 110 points.

The market, on the hourly time frame, has tested the 20 ema and consolidated whole day near the level.

Index is trading in a choppy manner and even on the smaller time frame, the market kept on testing the 20 ema.

The market a jittery and a trending market can be seen in the coming days.

Support :- 42360, 42230
Resistance :- 42475, 42600

Wait for the price action near the levels before entering the markets.


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