Banknifty daily analysis for 03/02/23.
Banknifty on the daily time frame has been testing the 200 ema and taking support from the levels. The market has formed an inside candle and closed near the resistance zone.
On the hourly time frame, the market has closed between both the moving averages and consolidated whole day breaking the day high in the last hour.
The market has taken nice support from 40140 level and given nice movement of 600 points.
On the 15 minute chart, the market has closed between both the moving averages.
Support :- 40535, 40140
Resistance :- 40800, 41030
If the market breaks the level of 40800, the market may cross 41k levels.
Wait for the price action near the price levels before entering the market.
On the hourly time frame, the market has closed between both the moving averages and consolidated whole day breaking the day high in the last hour.
The market has taken nice support from 40140 level and given nice movement of 600 points.
On the 15 minute chart, the market has closed between both the moving averages.
Support :- 40535, 40140
Resistance :- 40800, 41030
If the market breaks the level of 40800, the market may cross 41k levels.
Wait for the price action near the price levels before entering the market.
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