Banknifty daily analysis for 01/06/23 (weekly expiry).
Banknifty tried to gain some point in the last hour of the trading session and has formed a dragon fly doji on the daily chart. It closed above the 44100 levels.
On the hourly time frame, the market has started trading below the 20 ema and took resistance from it.
The market gave break down of 44250 levels and has retested the same levels.
Support :- 43835, 43400
Resistance :- 44250, 44450
The market has consolidated, gave a break down and has also retested it. If the market starts trading below 44k levels it can test lower levels too.
wait for the price action near the levels before entering the market.
On the hourly time frame, the market has started trading below the 20 ema and took resistance from it.
The market gave break down of 44250 levels and has retested the same levels.
Support :- 43835, 43400
Resistance :- 44250, 44450
The market has consolidated, gave a break down and has also retested it. If the market starts trading below 44k levels it can test lower levels too.
wait for the price action near the levels before entering the market.
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