Banknifty daily analysis for 20/09/22
Banknifty has formed another doji on the daily time frame.
The market after the initial push has consolidated.
It is respecting a trend line and a flag and pole pattern is formed on the hourly time frame,
On 15 minute time frame, banknifty traded around its 20 ema and closed around it.
support :- 40850, 40660
Resistance :- 41000, 41180
The market remained sideways and consolidated whole day, a trending market is expected once it start trading above the resistance levels.
Wait for the price action near the levels before entering the market.
The market after the initial push has consolidated.
It is respecting a trend line and a flag and pole pattern is formed on the hourly time frame,
On 15 minute time frame, banknifty traded around its 20 ema and closed around it.
support :- 40850, 40660
Resistance :- 41000, 41180
The market remained sideways and consolidated whole day, a trending market is expected once it start trading above the resistance levels.
Wait for the price action near the levels before entering the market.
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