Banknifty daily analysis for 22/11/22
Bank nifty on the daily time frame has closed almost flat and it has taken a nice support from 42200 level.
The market consolidated whole day and remained in the first hour candle. The market has closed near the 20 Emma.
On 15 minute time frame, the market has closed above 20 ema and has closed near the day high.
Support:- 42400, 42325, 42230
Resistance:- 42600
Bank nifty is still stronger than nifty. Watch for the banking sector and enter only on the break out/down.
Wait for the price action near the levels before entering the market.
The market consolidated whole day and remained in the first hour candle. The market has closed near the 20 Emma.
On 15 minute time frame, the market has closed above 20 ema and has closed near the day high.
Support:- 42400, 42325, 42230
Resistance:- 42600
Bank nifty is still stronger than nifty. Watch for the banking sector and enter only on the break out/down.
Wait for the price action near the levels before entering the market.
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