Banknifty weekly analysis for 12/09/22.

Banknifty on the weekly time frame has given a nice up move and gained 2.5%.

There is a nice doji candle on the daily time frame.

The market in the second half consolidated and has closed 200 points higher.

On 15 minute time frame, has closed below the 20 ema.

Support :- 40250, 40050
Resistance :- 40570, 40850

Banknifty has closed above 40k on the weekly time frame. The markets are in a bull run and can form new high.

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