Banknifty daily analysis for 26/08/22
Banknifty on the daily time frame has given a dojo candle and a huge sell off in the last hour of the trading session end the monthly expiry.
In a single hourly candle, Banknifty cracked about 500 points breaking the 20 ema and closing below the level.
The market has closed near 15 minutes 200 ema. It fell from 20 ema to 200 ema (15 minute time frame) giving nice R:R ratio.
Support:- 38760, 38510, 38200
Resistance:- 39000, 39140, 38380
Wait for the price action near the levels before entering the market.
In a single hourly candle, Banknifty cracked about 500 points breaking the 20 ema and closing below the level.
The market has closed near 15 minutes 200 ema. It fell from 20 ema to 200 ema (15 minute time frame) giving nice R:R ratio.
Support:- 38760, 38510, 38200
Resistance:- 39000, 39140, 38380
Wait for the price action near the levels before entering the market.
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