Banknifty on the weekly time frame has closed above 42k level. The market after 2 week of consolidation has given a nice green candle.
The market has formed an neutral doji on the dialy time frame.
On the hourly time frame, the market in the second half has consolidated and forme support around 42120.
Banknifty has taken a nice support from 20 ema, on 15 minute time frame.
Support :- 42120, 41940, 41700
Resistance :- 42230, 42340
The index has formed a new ATH but nifty is near its recent high. Banknifty can reach new highs.
Wait for the price action near the levels before entering the markets.
The market has formed an neutral doji on the dialy time frame.
On the hourly time frame, the market in the second half has consolidated and forme support around 42120.
Banknifty has taken a nice support from 20 ema, on 15 minute time frame.
Support :- 42120, 41940, 41700
Resistance :- 42230, 42340
The index has formed a new ATH but nifty is near its recent high. Banknifty can reach new highs.
Wait for the price action near the levels before entering the markets.
