Banknifty daily analysis for 09/11/22.
Finally, Banknifty on the daily time frame has good bullish closing above the previous close. And has formed a bullish hanging man candle on daily time frame.
Dow has given a nice break out above the 33000 level and Sgx nifty is around 18400 which shows that Indian market will show a gap up opening.
Banknifty can make a New ATH in the opening.
On the hourly chart analysis, the market has touched its 20 ema and has given a good recovery.
The last trading hour gave a nice up move and closed just near the opening price.
Support :- 41650, 41370, 41250
Resistance:- 41840, 42040, 42210 (fib levels)
If the markets after a gap up remain in the up move, both the indices can achieve new ATH.
The global market positive sentiments will push our market up.
Wait for the price action near the levels before entering the markets.
Dow has given a nice break out above the 33000 level and Sgx nifty is around 18400 which shows that Indian market will show a gap up opening.
Banknifty can make a New ATH in the opening.
On the hourly chart analysis, the market has touched its 20 ema and has given a good recovery.
The last trading hour gave a nice up move and closed just near the opening price.
Support :- 41650, 41370, 41250
Resistance:- 41840, 42040, 42210 (fib levels)
If the markets after a gap up remain in the up move, both the indices can achieve new ATH.
The global market positive sentiments will push our market up.
Wait for the price action near the levels before entering the markets.
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