Bankniftytrading
Banknifty daily analysis 07/10/22Banknifty on the daily time frame has formed a grave stone doji and took support from its 20 ema.
The market has closed almost flat and closed just near the low.
On the hourly time frame, market has taken support from 200 ema.
The market has closed below 20 ema on 15 minute time frame.
Support :- 39130, 38960, 38780
Resistance :- 39390, 39510, 40000(round number)
Wait the price action near the levels before trading the market.
Banknifty daily analysis for 06/10/22The markets are following the global trend and gap up/downs are not give much opportunity for swing and intraday trades.
Banknifty, after the gap up of 600 points, it gained only 300 points in forst hourly candle and consolidated whole day in a range.
The market is still unable to cross the level of 39130. Banknifty has consolidated in a narrow range of 150-170 points after the initial push.
There is a bullish moving average cross over on the 15 minutr time frame.
Support :- 38960, 38780, 38510
Resistance :- 39130, 39510, 40000(round number)
Wait the price action near the levels before trading the market.
Banknifty daily analysis for 04/10/22Banknifty on the daily time frame has formed an inside candle and is trading between 20 and 200 DMA.
The market opened lower and from the first hour came for selling.
Banknifty tried to hold the levels and in the second half the market faced a huge sell off and closed 600 points lower.
The market, on the hourly time frame, took a resistance from its 20 ema.
Even on the 15 minute time frame, the index has faced resistance from the 20 ema.
Support :- 38000, 37280, 37680
Resistance :- 38158, 38280, 38530
The market has remained in a consolidation and has formed an inside candle. Take a trade only if the market crossed today's high or low.
Wait for the price action near the price level before entering the markets.
Tommorow Banknifty level For our side tommorow will be slightly bullish or in buying mode after the opening.
Buy banknifty above 39651
Target 39821 39893 40000(not possible)
Sl 39441
Sell Banknifty below 39417
Target 39327 39278(major support) 39193
Sl 39640
If Market open at gap down thn buy after the breakout of opening.