Banknifty on the daily charts has formed a doji near the high and finally crossed but couldn't sustain above 44500 levels.
Market after a gap up opening came for a gap filling and consolidated whole day being expiry in the second half.
There was both side movement as there was expiry and option premiums too where volatile whether it was call or put.
During the last hour, market touched the new ATH and came for selling touching 44250 levels from 44500.
Though, there was a bullish moving average crossover but market couldn't sustain above the resistance levels.
On 15 minutes charts, market took support around the 20 EMA and closed above both the moving averages.
Support :- 44200, 43950
Resistance :- 44425, 44500
Market is sustaining near the higher levels. Watch for the market testing and forming new highs.
Wait for the price action near the levels before entering the market.
Market after a gap up opening came for a gap filling and consolidated whole day being expiry in the second half.
There was both side movement as there was expiry and option premiums too where volatile whether it was call or put.
During the last hour, market touched the new ATH and came for selling touching 44250 levels from 44500.
Though, there was a bullish moving average crossover but market couldn't sustain above the resistance levels.
On 15 minutes charts, market took support around the 20 EMA and closed above both the moving averages.
Support :- 44200, 43950
Resistance :- 44425, 44500
Market is sustaining near the higher levels. Watch for the market testing and forming new highs.
Wait for the price action near the levels before entering the market.
