Banknifty remained weak as compare to Nifty and closed 250 points lower.
The market gave a nice down side movement after touching the round number of 39000.
On the 15 minute chart analysis, the market tried to sustain above the 20 ema levels but couldn't hold the levels and took resistance from the same.
The markets are heading for a monthly expiry and a violent move is predicted in this session as the market is consolidating.
Support :- 38350, 38100, 37730
Resistance:- 38500-30,38700, 39000-50
The markets can remain in a consolidation for tomorrow. If not, 400-500 points move will be there either side.
Wait for the price action near the levels before entering the markets.
The market gave a nice down side movement after touching the round number of 39000.
On the 15 minute chart analysis, the market tried to sustain above the 20 ema levels but couldn't hold the levels and took resistance from the same.
The markets are heading for a monthly expiry and a violent move is predicted in this session as the market is consolidating.
Support :- 38350, 38100, 37730
Resistance:- 38500-30,38700, 39000-50
The markets can remain in a consolidation for tomorrow. If not, 400-500 points move will be there either side.
Wait for the price action near the levels before entering the markets.
