Banknifty daily analysis for 12/10/23.
Banknifty today tested 44700 level after a gap up opening and came down lossing the gain and closing only 156 points higher.
It took a good support around 44500 levels and closed just around the levels.
Again, there a doji formation on the higher levels and it is unable to close above 20 ema on the daily charts.
On the hourly charts, after a first hour volatile movement it remained in a 100 points range, closing between both the moving averages.
A minor resistance is there around 44550 level and it is taking support from the 20 ema.
Support :- 44450, 44340
Resistance :- 44740, 44970
Today's weekly expiry remained silent and the markets remained volatile.
Wait for the price action near the levels before entering the market.
It took a good support around 44500 levels and closed just around the levels.
Again, there a doji formation on the higher levels and it is unable to close above 20 ema on the daily charts.
On the hourly charts, after a first hour volatile movement it remained in a 100 points range, closing between both the moving averages.
A minor resistance is there around 44550 level and it is taking support from the 20 ema.
Support :- 44450, 44340
Resistance :- 44740, 44970
Today's weekly expiry remained silent and the markets remained volatile.
Wait for the price action near the levels before entering the market.
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