Banknifty daily analysis for 10/10/23.
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Banknifty has closed more than 1% lower on the daily charts but it took support around the major support levls of 43800.
The market remained in a first hour candle and has closed below both the moving averages on the hourly chart.
There are chance of a trending market as there is weekly expiry of another finance index.
For last 2 weeks there were no trend expiry of the 2 finance indices. So there is much possibility of market giving a trend move.
On 15 minutes charts, it has closed below both the moving averages. 20 ema is providing market a resistance and it has been retested.
The RSI indicator is showing a bullish divergence. The Indian market are strong but due to the global news there was a gap down opening.
Support :- 43840, 43740, 43480
Resistance :- 44120, 44250
Wait for the price action near the levels before entering the market.
The market remained in a first hour candle and has closed below both the moving averages on the hourly chart.
There are chance of a trending market as there is weekly expiry of another finance index.
For last 2 weeks there were no trend expiry of the 2 finance indices. So there is much possibility of market giving a trend move.
On 15 minutes charts, it has closed below both the moving averages. 20 ema is providing market a resistance and it has been retested.
The RSI indicator is showing a bullish divergence. The Indian market are strong but due to the global news there was a gap down opening.
Support :- 43840, 43740, 43480
Resistance :- 44120, 44250
Wait for the price action near the levels before entering the market.
Ghi chú
Momentum is still on the buying side and its banknifty expiry. It has been trading in a range is if 44750 level is cleared there are chance of market hitting 45k level today.
Wait for a retracement and enter on the bullish side only.
Buy on dip is the market for today.
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