Banknifty daily analysis for 01/09/22

Banknifty has given a nice bullish movement and gained 1260 points.

The markets soaked in the gap down of monday and gain 550 point on the weekly time frame.

This kind of momentum was not expected.

There is a bullish moving average cross over oh 15 minute time frame and closed above the levels.

Support :- 39380, 39140
Resistance :- 39650, 40000

The markets can remain in the bullish mode and can give a green expiry.

Wait for the price action before entering the markets.