Banknifty daily analysis for 11/10/22
Banknifty on the daily time frame has closed almost flat losing around 80 points.
After a gap down of more than 400 points, banknifty regained and filled the gap. Though, in the second half the market remained in a consolidation zone.
On the hourly time frame, market has closed between both the moving averages. Banknifty has taken resistance from its 200 ema.
The market can still not decide its trend and on the 15 minute time frame the moving averages are close enough.
Indian markets are still in the confusion. The global market are showing negativity.
Support :- 38960, 38780, 38530
Resistance:- 39130, 39390, 39510
Wait for the price action near the levels before entering the markets.
After a gap down of more than 400 points, banknifty regained and filled the gap. Though, in the second half the market remained in a consolidation zone.
On the hourly time frame, market has closed between both the moving averages. Banknifty has taken resistance from its 200 ema.
The market can still not decide its trend and on the 15 minute time frame the moving averages are close enough.
Indian markets are still in the confusion. The global market are showing negativity.
Support :- 38960, 38780, 38530
Resistance:- 39130, 39390, 39510
Wait for the price action near the levels before entering the markets.
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