Banknifty daily analysis for 01/11/22
Banknifty on the daily time frame has form an inside candle and a dragon fly doji.
The market traded in a narrow range. After a gap up, there was drip and market regained point to today’s high.
Nifty has crossed above 18k and Banknifty is also around its ATH. Both the indices can create new highs in the coming month.
On 15 minute time frame, the market has tested 41350 levels multiple time and took support from 20 ema.
Support:- 41230, 41120, 41000
Resistance:- 41350, 41450, 41540
Watch Banknifty to trade above 350 levels for a long trade.
Wait for the price action near the levels before entering the market.
The market traded in a narrow range. After a gap up, there was drip and market regained point to today’s high.
Nifty has crossed above 18k and Banknifty is also around its ATH. Both the indices can create new highs in the coming month.
On 15 minute time frame, the market has tested 41350 levels multiple time and took support from 20 ema.
Support:- 41230, 41120, 41000
Resistance:- 41350, 41450, 41540
Watch Banknifty to trade above 350 levels for a long trade.
Wait for the price action near the levels before entering the market.
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