Banknifty daily analysis for 30/08/22

Banknifty gave a nice upmove after the gap down of more than 800 points.

It closed below the 20 DMA and got a nice rejection from the level.

The market consolidated whole day and remained between 20 and 200 ema.

On 15 minute time frame analysis, Banknifty got a nice rejection from its 20 ema and closed around it.

Support:- 38230,38120,38000,37840
Resistance:- 38350,38510,38760

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