Banknifty daily analysis for 21/06/23.
Banknifty on the daily time frame has given a nice green candle. In the first half market has tested 43400 levels and recovered in the second half giving close above 43750 levels.
Market has given a fall, breaking both the moving averages and in the second half has closed above both the moving averages.
Banknifty consolidated near the 43400 levels. The was a nice bounce from the support zone.
43400 levels have been tested by the market many times, making it weak. If the market again comes to test the lower levels, there are chance of market to go down.
The resistance zone and the support zone are being tested and both the levels are getting weak. There are chance of market giving a nice move either side.
On 15 minutes charts, the market has closed near the 200 EMA.
Support :- 43700, 43400-50
Resistance :- 43870, 44050
Both side momentum was there in the market today. There are chances of market either taking a halt or going upside, seeing the second half move.
Wait for the price action near the levels before entering the market.
Market has given a fall, breaking both the moving averages and in the second half has closed above both the moving averages.
Banknifty consolidated near the 43400 levels. The was a nice bounce from the support zone.
43400 levels have been tested by the market many times, making it weak. If the market again comes to test the lower levels, there are chance of market to go down.
The resistance zone and the support zone are being tested and both the levels are getting weak. There are chance of market giving a nice move either side.
On 15 minutes charts, the market has closed near the 200 EMA.
Support :- 43700, 43400-50
Resistance :- 43870, 44050
Both side momentum was there in the market today. There are chances of market either taking a halt or going upside, seeing the second half move.
Wait for the price action near the levels before entering the market.
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