Banknifty daily analysis for 24/11/22
Finally, banknifty has formed a new ATH but market couldn't sustain the higher levels.
The market consolidated whole day, gave a up move in the second half and came for selling in the last hour of the trading session.
The market trend is bullish but the movement during the last hour is creating a confusion.
Banknifty is stronger than the other index and closed gaining 270 points.
On 15 minute time frame, the market has closed between both the moving averages.
Support:- 42640, 42600, 42475
Resistance :- 42840
The market have many supports and the resistances are minimum. A trending market can be seen as tomorrow is monthly expiry.
Wait for the price action near the levels before entering the markets.
The market consolidated whole day, gave a up move in the second half and came for selling in the last hour of the trading session.
The market trend is bullish but the movement during the last hour is creating a confusion.
Banknifty is stronger than the other index and closed gaining 270 points.
On 15 minute time frame, the market has closed between both the moving averages.
Support:- 42640, 42600, 42475
Resistance :- 42840
The market have many supports and the resistances are minimum. A trending market can be seen as tomorrow is monthly expiry.
Wait for the price action near the levels before entering the markets.
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