Banknifty daily analysis for 07/12/22

Market trend is still not predictable as banknifty has formed a gravestone doji after a dragon fly doji on day to day closing.

Banknifty created confusion in the initial hour and consolidated whole day in a narrow range.

On hourly time frame, the market traded whole day below the 20 ema.

The market has constantly faced rejection from 43200 levels and closed 194 points low.

Support :- 43090, 43000
Resistance :- 43180, 43280

The market are not giving a nice 400-500 moves in a day and this kind of markets should be avoided.

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