Banknifty has given a nice bearish move today and closed around the day's low.
The market was trading in a range for last two trading session and gave a good momentum after a break down.
There is a bearish sentiment as the market has closed below both the moving averages on the hourly charts.
Tomorrow is monthly expiry for the indices and if there is another bearish move tomorrow, a nice trending move can be seen.
Major resistance levels :- 46270, 46730
A volatile market was there in the second half of the trading session.
If there is a gap up or flat opening, wait for the break down and enter the bearish move only after the support zone is breached.
Major support levels :- 45910, 45700
Reversal can be seen near 45700 level as there is a golden fibonacci levels. Banknifty has closed below the 20 ema on the daily charts.
Wait for the price action near the levels before entering the market.
The market was trading in a range for last two trading session and gave a good momentum after a break down.
There is a bearish sentiment as the market has closed below both the moving averages on the hourly charts.
Tomorrow is monthly expiry for the indices and if there is another bearish move tomorrow, a nice trending move can be seen.
Major resistance levels :- 46270, 46730
A volatile market was there in the second half of the trading session.
If there is a gap up or flat opening, wait for the break down and enter the bearish move only after the support zone is breached.
Major support levels :- 45910, 45700
Reversal can be seen near 45700 level as there is a golden fibonacci levels. Banknifty has closed below the 20 ema on the daily charts.
Wait for the price action near the levels before entering the market.
