Banknifty daily analysis for 10/08/23.
Banknifty tested lower levels but has closed in the same range as the previous 2 days.
On the hourly charts, it has again closed between both the moving averages. It gained 200 points in the last hour signifying some bullish movement in coming days.
Both buyer and seller took charge today. Seller where in control in the first half of the session but buyer pushed market back giving closed only 80 points lower.
Dragon fly doji on the daily charts and closed near 44900 levels is something buyer where looking for.
An inside candle has been formed on 4 hours charts. Watch for market to cross and start trading above today's high.
Market gave an unpredictable move in the second half.
Support :- 44580, 44310
Resistance :- 45090, 45280, 45500
The market has created a huge range in which it traded today. Avoid trading between today range.
Wait for the price action near the levels before entering the market.
On the hourly charts, it has again closed between both the moving averages. It gained 200 points in the last hour signifying some bullish movement in coming days.
Both buyer and seller took charge today. Seller where in control in the first half of the session but buyer pushed market back giving closed only 80 points lower.
Dragon fly doji on the daily charts and closed near 44900 levels is something buyer where looking for.
An inside candle has been formed on 4 hours charts. Watch for market to cross and start trading above today's high.
Market gave an unpredictable move in the second half.
Support :- 44580, 44310
Resistance :- 45090, 45280, 45500
The market has created a huge range in which it traded today. Avoid trading between today range.
Wait for the price action near the levels before entering the market.
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