Banknifty daily analysis for 08/09/23.

Banknifty has given a nice marubozu candle on the daily charts and there is a bullish mat hold pattern.

It broke the resistance zone of 44650 levels and has travelled to touch the resistance of 44900. Banknifty has given a nice up ward move from the first hour after retesting 44350 levels.

On the hourly charts, there is a bullish moving averages cross over and market held onto take support from the moving averages.

A nice 1% move is there in banknifty and it was stronger than nifty.

Now the major resistance area is around 45000-45100 levels and if it is cleared than the bullish trend will be confirmed.

Support :- 44650, 44500
Resistance :- 44910, 45080, 45350

Watch banknifty moving above 45000 levels, once the levels are cleared and market sustain above it, there are chance of a nice upside targets.

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

ปิดการเทรด: ถึงเป้าหมายการทำกำไร:

Banknifty has acheived all the targets and reversed immediately after hitting 45350, our ultimate target.

This week banknifty has given a trending move and has closed above 45k level.