Banknifty daily analysis for 12/09/23.

Nifty has formed a new ATH high and banknifty is around its ATH.

There can be a halt in the market has it has given a nice one side move and has travelled from 44400 to 45500 without a retest.

It has given a nice bullish candle and giving close 414 points higher.

On the hourly charts, it has showed a bullish movement and it trading way far from the moving averages.

The markets consolidated during the mid trading hours and gave a breakout and closed above 45500 levels.

Support :- 45440, 45230
Resistance :- 45680, 45855

Wait for the price action near the levels before entering the market.