BANKNIFTY INDEX PRICE ACTION EXPECTATED FOR THE DAY

-BANKNIFTY HAS IT CHANGED ITS TREND OR THERE IS TREND REVERSAL?
-ANSWER IS NO
-INDEX RALLIED 2000 POINTS FROM ITS BREAKOUT ZONE OF 23200
-WE CAN SAY THAT THE INDEX MADE A LOT OF EFFORT TO BREAK THE HIGH OS 23200
-SO IT IS NOT THAT EASY FOR THE INDEX TO BREAK 23200 AGAIN AND MOVE LOWER
-INDEX HAS RETRACED MORE THAT 61.8% OF THE RALLY AND SHOULD FIND BUYING AGAIN SOON
-YESTERDAY WHAT WE HAD WAS A SHAKEOUT DAY WERE THE WEAK HANDS WERE THROWN OUT OF THE MARKET
-LETS TALK LEVELS NOW
-CRUCIAL SUPPORT IS PLACED AT 23200-23100
-CRUCIAL RESISTANCE PLACED AT 23900-24200
-IF MARKET OPENS ABOVE ITS 200-EMA AND SUSTAINS FOR MORE THAN ONE HOUR THEN WE CAN SEE SHORT COVERING

RESISTANCE FOR THE DAY (FUT)
23900-24200-24300
SUPPORT FOR THE DAY (FUT)
23700-23575-23200

SCREENSHOT