Banknifty daily analysis for 12/04/23.
Banknifty has given a nice up move even after the gap up opening and has closed above the trendline. The market has given a break out and the index has closed 500+ points forming a dragon fly doji.
The market has consolidated and moved nicely in the second half of the trading session.
On the hourly time frame, the first candle showed some positivity and after it the market has slow and steady move to higher levels.
The market has created a gap and in the coming days there is a possibility of filling the gap.
Support :- 41235, 41000
Resistance :- 41400, 41630, 41950
The market after the gap up opening has given break out of the consolidation zone.
Wait for the price action near the levels before entering the market.
The market has consolidated and moved nicely in the second half of the trading session.
On the hourly time frame, the first candle showed some positivity and after it the market has slow and steady move to higher levels.
The market has created a gap and in the coming days there is a possibility of filling the gap.
Support :- 41235, 41000
Resistance :- 41400, 41630, 41950
The market after the gap up opening has given break out of the consolidation zone.
Wait for the price action near the levels before entering the market.
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