Banknifty daily analysis for 30/12/22.
Banknifty is back in form and it giving nice trending moves. It has given a the New Year gifts to the traders in the last expiry of the year.
The market closed gaining 1% or 425 points giving a bullish engulfing candle and closing above the 20 DMA.
On the hourly time frame, the market has given a bullish moving average cross over and gained 390 points in the last hour candle.
The market has finally closed above 43k levels.
On 15 minute time frame, there is also a bullish moving average cross over. The market can take a halt after the last hour violent move.
Support :- 43280, 43030, 43685
Resistance :- 43430, 43600
Wait for the price action near the levels before entering the markets.
The market closed gaining 1% or 425 points giving a bullish engulfing candle and closing above the 20 DMA.
On the hourly time frame, the market has given a bullish moving average cross over and gained 390 points in the last hour candle.
The market has finally closed above 43k levels.
On 15 minute time frame, there is also a bullish moving average cross over. The market can take a halt after the last hour violent move.
Support :- 43280, 43030, 43685
Resistance :- 43430, 43600
Wait for the price action near the levels before entering the markets.
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