Banknifty daily analysis for 12/12/22
Banknifty has finally traded near 44k level and has given another green candle on the weekly time frame.
On the hourly time frame, the market has formed a dragon fly doji and closed above 43600 level.
The market has tested the 20 ema, on hourly time frame, and gave a nice upmove.
The market after a gap up and came for selling and tested the support zone near 43400 level.
Support :-43500, 43335-43370
Resistance :- 43675, 43820
The market is forming new highs and is taking halt on the higher levels.
Banknifty has gained 1.2% on the weekly time frame and nifty has closed 1% lower.
Wait for the price action near the level before entering the level.
On the hourly time frame, the market has formed a dragon fly doji and closed above 43600 level.
The market has tested the 20 ema, on hourly time frame, and gave a nice upmove.
The market after a gap up and came for selling and tested the support zone near 43400 level.
Support :-43500, 43335-43370
Resistance :- 43675, 43820
The market is forming new highs and is taking halt on the higher levels.
Banknifty has gained 1.2% on the weekly time frame and nifty has closed 1% lower.
Wait for the price action near the level before entering the level.
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