Banknifty on the daily time frame has been trading in a range for 7 days. Market is halting in on the higher levels.
There was a sell off from the initial trading hour and closed below 20 ema on hourly chart analysis.
The market has taken a nice resistance from 41450 levels and on 15 minute time frame market has closed between both the moving averages.
Support:- 41120, 41000, 40890
Resistance:- 41230, 41350, 41450
Wait for the price action near the levels before entering the market.
There was a sell off from the initial trading hour and closed below 20 ema on hourly chart analysis.
The market has taken a nice resistance from 41450 levels and on 15 minute time frame market has closed between both the moving averages.
Support:- 41120, 41000, 40890
Resistance:- 41230, 41350, 41450
Wait for the price action near the levels before entering the market.
