Banknifty has closed below the weekly 20 ema and looks bearish as the golden ratio is also breached.
The previous trading session has formed a bullish hammer but still is trading below the previous day high.
Bullish swing/intrady should be created above 46200 levels. It has taken support from 20DEMA.
Major support levels :- 44480, 44290
No trading zone is market between 44480-45130 due to the volatility in the market.
Resistance levels :- 45130, 45470, 46160
Markets will be opening after a long weekend and chance are there of a gap up/down opening.
Trailing stop loss can help capturing the trend.
This is a budget week and option premiums will be high. Enter a confirm setup and aviod entering the between the trend.
Watch price action near the levels before entering the trade.