Banknifty on the daily time frame has given a red candle and almost closed around the previous day low.
BN is around its week 20 ema. The market may take a support from its level.
After the initial gap up the market fell to the previous day close and consolidated in the second half of the trading session.
On the 15 minute time frame, the market is unable to hold its 20 ema and tested its level but took rejection.
If the market sustains above the 20 ema(15 minute time frame) and holds the level. The market can give a retracement before another sell off.
Support :- 37550, 37410, 37250
Resistance :- 37730, 38100, 38300
Wait the price action near the levels before trading the market.
BN is around its week 20 ema. The market may take a support from its level.
After the initial gap up the market fell to the previous day close and consolidated in the second half of the trading session.
On the 15 minute time frame, the market is unable to hold its 20 ema and tested its level but took rejection.
If the market sustains above the 20 ema(15 minute time frame) and holds the level. The market can give a retracement before another sell off.
Support :- 37550, 37410, 37250
Resistance :- 37730, 38100, 38300
Wait the price action near the levels before trading the market.
