Banknifty daily analysis for 06/07/23.
Banknifty has been forming doji after doji.
Market opened 160 points lower and during the first trading hour travelled both side and forming doji.
On the hourly charts, market took support from the 20 EMA and closed above the levels. The market traded inside the first hour candle and consolidated whole day.
The markets is holding the higher levels and is in a sideways mode. Banknifty remained inside 200 points after the first hour volatility.
On 15 minutes time frame, the market traded around the 20 ema and took resistance from the levels. It closed near the levels.
Support :- 45020, 44780
Resistance :- 45360
Wait for the price action near the levels before entering the market.
Market opened 160 points lower and during the first trading hour travelled both side and forming doji.
On the hourly charts, market took support from the 20 EMA and closed above the levels. The market traded inside the first hour candle and consolidated whole day.
The markets is holding the higher levels and is in a sideways mode. Banknifty remained inside 200 points after the first hour volatility.
On 15 minutes time frame, the market traded around the 20 ema and took resistance from the levels. It closed near the levels.
Support :- 45020, 44780
Resistance :- 45360
Wait for the price action near the levels before entering the market.
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