Banknifty is back in form and it giving nice trending moves. It has given a the New Year gifts to the traders in the last expiry of the year.
The market closed gaining 1% or 425 points giving a bullish engulfing candle and closing above the 20 DMA.
On the hourly time frame, the market has given a bullish moving average cross over and gained 390 points in the last hour candle.
The market has finally closed above 43k levels.
On 15 minute time frame, there is also a bullish moving average cross over. The market can take a halt after the last hour violent move.
Support :- 43280, 43030, 43685
Resistance :- 43430, 43600
Wait for the price action near the levels before entering the markets.
The market closed gaining 1% or 425 points giving a bullish engulfing candle and closing above the 20 DMA.
On the hourly time frame, the market has given a bullish moving average cross over and gained 390 points in the last hour candle.
The market has finally closed above 43k levels.
On 15 minute time frame, there is also a bullish moving average cross over. The market can take a halt after the last hour violent move.
Support :- 43280, 43030, 43685
Resistance :- 43430, 43600
Wait for the price action near the levels before entering the markets.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.