Banknifty daily analysis for 06/10/22
The markets are following the global trend and gap up/downs are not give much opportunity for swing and intraday trades.
Banknifty, after the gap up of 600 points, it gained only 300 points in forst hourly candle and consolidated whole day in a range.
The market is still unable to cross the level of 39130. Banknifty has consolidated in a narrow range of 150-170 points after the initial push.
There is a bullish moving average cross over on the 15 minutr time frame.
Support :- 38960, 38780, 38510
Resistance :- 39130, 39510, 40000(round number)
Wait the price action near the levels before trading the market.
Banknifty, after the gap up of 600 points, it gained only 300 points in forst hourly candle and consolidated whole day in a range.
The market is still unable to cross the level of 39130. Banknifty has consolidated in a narrow range of 150-170 points after the initial push.
There is a bullish moving average cross over on the 15 minutr time frame.
Support :- 38960, 38780, 38510
Resistance :- 39130, 39510, 40000(round number)
Wait the price action near the levels before trading the market.
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