Banknifty daily analysis for 16/09/22
Banknifty has touched is ATH but couldn't sustain the level.
Banknifty is still strong as compare to nifty. It has given a red candle but lost only 200 points on day closing.
It is trading above its 20 ema on hourly time frame and taking support around 41200 levels.
On 15 minute time frame, the market has closed below its 20 ema. Banknifty has given a down side movement of 600 points.
Support :- 41200, 41000, 40840
Resistance :- 41300, 41420, 41800
Wait for the price action near the levels and watch for the premium decay as option premiums were high today.
Banknifty is still strong as compare to nifty. It has given a red candle but lost only 200 points on day closing.
It is trading above its 20 ema on hourly time frame and taking support around 41200 levels.
On 15 minute time frame, the market has closed below its 20 ema. Banknifty has given a down side movement of 600 points.
Support :- 41200, 41000, 40840
Resistance :- 41300, 41420, 41800
Wait for the price action near the levels and watch for the premium decay as option premiums were high today.
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