Banknifty future chart analysis for 23.10.2023

22 thg 10, 2023

As you can see here that Median line showing downside trend and
price closed at downside standard deviation one ,after taking resistance
at median line, if price goes down below 43574 then you can see a short term
burst in bollinger bands and price may reach to the level of 43412,
price may take a sudden upside bounce from 43412, if price crosses
below 43412 then price may became very weak and may travel beyond
downside final target.
if price takes support above 43574 then you may see a sideways again.


if price takes resistance at 43907, may go in sideways , if crosses above 43907 then it may again retrace from
44076 , and may go down 200 points from here. if price crosses above 44076 then it may reach to the level
of 44257.