Russiaukrainecrisis
Banknifty AnalysisAfter a long streak of bearishness Banknifty recovered from lows in the past 2 sessions. Currently the index is standing at a crucial resistance level, a break above that level can take BankNifty to 2nd resistance zone plotted on chart. Now talking on the downside price can see support at 32,000 levels and the next support is at 31,100 zone if price below 32k then we can see 31k very quickly.
Nifty Daily AnalysisNifty 50 is seeing a deep correction since a while. On fundamental terms the action is happening around Russia-Ukraine news flows, now talking on the technical terms the Index is trading in Regression Trend Channe l. Currently price is trading around lower levels of the channel from here on key levels to watch out is resistance at 16850 if that gets clear then we can see bullish momentum for upcoming trading sessions. However the market is highly volatile these days so avoid carrying overnight naked positions.