Banknifty daily analysis for 08/09/22

Banknifty remained weaker and closed 200 points lower on daily time frame.

On the hourly time frame, the market has respected the 20 ema level and took resistance from it.

The market traded between 20 and 200 ema on 15 minute time frame and closed in between the levels.

Banknifty is volatile and gap up and gap down are making it difficult for the intraday traders.

Support :- 39280, 39140, 38900
Resistance :- 39600, 39850, 40050

Wait for the price action near the levels before entering the markets and be watchfull of option premiums as tomorrow is weekly expiry.