Banknifty view for 18/08/22

Banknifty has touched the crucial level of 39500 but couldn't sustain above it. It took a clear rejection from the level.

It remain silent in the first half and gained some points in the last hour of the trading session.

The market has closed on a bullish note and can remain in green.

On 15 minute time frame, the market a clearly respected the 20 ema.

Support :- 39360, 39270
Resistance :- 39500, 40000

Wait for the price action before entering the markets.

Tomorrow is weekly expiry and market can remain volatile.