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Banknifty daily analysis for 10/01/23Banknifty has given a nice move even after the gap up and touched the resistance zone making a high around 42700 level. The market after the gap up remained in a 400 point range and took support from the levels closing 390 points above the previous closing. On the hourly chart, the market has traded around the 20 ema and closed between both the moving averages. In the second half, there was a slow movement both side. The market has formed a doji and either side move can be capture in the index once the resistance or support zone is cleared. Support :- 42340, 41920 Resistance :- 42700, 42900 Wait for the price action near the price levels before entering the markets.
NSE:BANKNIFTY
by Mambotrade
Banknifty daily analysis for 21/10/22Banknifty on the daily time frame has formed a dragon fly doji. Market consolidated whole day and gave a break out in the last hour of the trading session. There was sell off even after a gap down and traded whole day below the 20 ema on the hourly time frame. Though, in the last trading session market closed above the level. On 15 minute time frame, the traded whole day between both the moving averages. Market took a nice support from the 39880 level. Support :- 40020, 396880, 39830 Resistance :- 40220, 40410, 40510 The market has consolidated whole day and gave a break out during the last hour of the trading session. The market can remain in a up trend and this can be the retracment of the level. Wait for the price action near the price levels before entering the price level.
NSE:BANKNIFTY
by Mambotrade
AUDUSD bulls flex muscles with eyes on RBABe it a weekly ascending trend channel of the bull cross, AUDUSD flashes upside signals ahead of the key monetary policy meeting of the Reserve Bank of Australia (RBA). That said, the bulls may retreat from the upper line of the stated channel, around 0.7040 by the press time. Even if the quote rises past 0.7040, the mid-June swing high near 0.7070 could challenge the additional run-up. It’s worth noting, however, that the pair’s run-up beyond 0.7070 enables it to challenge June’s peak of 0.7282, with the 0.7100 and the 0.7200 round figures likely to offer intermediate halts during the expected rise. Meanwhile, the 50-SMA and the channel’s support line together restrict the short-term AUDUSD downside to around 0.6930. following that, the 200-SMA, close to 0.6880, could challenge the pair bears. In a case where the prices remain weak past 0.6880, the 0.6760 and 0.6710 may act as the last defenses for the buyers, breaking which the south-run towards the yearly low of 0.6751 can’t be ruled out. Overall, AUDUSD is on the bull’s radar ahead of the key RBA. However, further upside may witness a pullback before challenging June’s peak.
by MTradingGlobal