Banknifty weekly analysis for 29/08/22.
Banknifty on weekly time frame, has formed another doji and gaining only a single point this week,
The market gave momentum on both side and on the last trading session (i.e. friday) formed an inside candle.
The market on the daily time frame analysis has given a nice push after retesting the 20 ema. Though, the market is unable to cross 61.8% fib level on daily time frame.
Banknifty consolidated whole day on last trading session and traded around its hourly 20 ema.
On 15 minute chart analysis, market has closed between both the moving averages.
Support :- 38900, 38760, 38500
Resistance :- 39140, 39380, 39500
The markets are stretched and has taken a halt for 2 weeks.It can move either side and can remain trending this week.
Wait for the price action near the levels before entering the markets
The market gave momentum on both side and on the last trading session (i.e. friday) formed an inside candle.
The market on the daily time frame analysis has given a nice push after retesting the 20 ema. Though, the market is unable to cross 61.8% fib level on daily time frame.
Banknifty consolidated whole day on last trading session and traded around its hourly 20 ema.
On 15 minute chart analysis, market has closed between both the moving averages.
Support :- 38900, 38760, 38500
Resistance :- 39140, 39380, 39500
The markets are stretched and has taken a halt for 2 weeks.It can move either side and can remain trending this week.
Wait for the price action near the levels before entering the markets
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