Banknifty daily analysis for 20/12/22
Banknifty on the daily time frame has given a dragon fly doji and on the smaller time frame there is a cup and handle pattern.
The market has closed near the resistance zone and 20 ema on hourly time frame.
Banknifty has tested the 43440 levels many times and if the market start trading above this level, it can test recent highs.
On 15 minute time frame, the market formed cup and handle pattern formation.
Support :- 42120, 42950
Resistance :- 43440, 43760
The market is showing some bullish movement. Let market cross above 43450 levels.
Wait for the price action near the levels before entering the markets.
The market has closed near the resistance zone and 20 ema on hourly time frame.
Banknifty has tested the 43440 levels many times and if the market start trading above this level, it can test recent highs.
On 15 minute time frame, the market formed cup and handle pattern formation.
Support :- 42120, 42950
Resistance :- 43440, 43760
The market is showing some bullish movement. Let market cross above 43450 levels.
Wait for the price action near the levels before entering the markets.
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