Banknifty daily analysis for 03/01/23.
Banknifty has taken a good support from 20 Dma and formed an inside candle.
The market as predicted took a halt and nice targets on the either side can be captured in the coming days.
On the hourly chart, the market took support form the moving average and closed gaining 200 points. There is a bullish moving average cross over.
The market after a initial up move, consolidated and remained in a narrow range.
Support :- 43080, 42970
Resistance :- 43310, 43435, 43600
The market can give nice trending market either side in the coming days.
Wait for the price action near the levels before entering the market.
The market as predicted took a halt and nice targets on the either side can be captured in the coming days.
On the hourly chart, the market took support form the moving average and closed gaining 200 points. There is a bullish moving average cross over.
The market after a initial up move, consolidated and remained in a narrow range.
Support :- 43080, 42970
Resistance :- 43310, 43435, 43600
The market can give nice trending market either side in the coming days.
Wait for the price action near the levels before entering the market.
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