Banknifty view for 04/08/22

Banknifty has formed an inside candle and was weaker than nifty.

Thou, it tried to cross 38k level but couldn't sustain above it.

It took a nice support from its hourly 20 ema and recovered during the last hour of the day.

Support :- 37645, 37965
Resistance :- 38170, 38500

Market have closed on a bullish note and can remain in green for tomorrow.

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