Banknifty daily analysis for 09/09/22

Banknifty has finally crossed and sustained above the level of 40k.

Index remained in a bullish momentum and gave a nice bullish marubozu candle.

On the hourly time frame, it remained bullish whole day and crossed upto the level of 40200.

The market travelled nicely, and remained in a parallel channel whole day.

Banknifty seems to carry on the bullish mode and give nice bullish momentum even for tomorrow.

Support :- 40055, 39850, 39600
Resistance :- 40250, 40840, 41000

Wait for the markets to take out today's high and price action near the levels.