Banknifty daily analysis for 01/12/22.

Banknifty on the daily time frame has formed a dragon fly doji and gave a nice movement during the closing hour of the session.

The index has been consolidating on the higher levels and can give a good moment either side as tomorrow is a weekly expiry.

On the hourly time frame, the market has formed a W-shape pattern and is respecting the 20 ema.

Market has given a U-shape recovery on the smaller time frame and closed above 43250 levels.

Support :- 43000, 42890, 42770
Resistance :- 43270

The market has formed a triple top pattern.

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