Banknifty view for 20/05/22.
The market has closed in red. After a huge gap down markets kept selling and selling.
Banknifty has closed just near the support level but the market still seems jittery.
There were clear sigh of selling on studying the Open Interest.
On smaller time frame, it has breached both the moving averages.
Support :- 33300, 33000
Resistance :- 33420, 33600
Market has create a huge void.
Wait for the price action to form near the levels and watch the trend.
Banknifty has closed just near the support level but the market still seems jittery.
There were clear sigh of selling on studying the Open Interest.
On smaller time frame, it has breached both the moving averages.
Support :- 33300, 33000
Resistance :- 33420, 33600
Market has create a huge void.
Wait for the price action to form near the levels and watch the trend.
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